EU Parliament Approves Groundbreaking AI Regulation

The European Parliament's endorsement of the AI Act marks a significant step towards regulating artificial intelligence, aiming to balance innovation with consumer protection.

The EU's proposed AI Act, aimed at regulating artificial intelligence, was endorsed by the European Parliament and awaits formal approval from EU member states.
The legislation introduces a risk-based approach to AI regulation, banning systems that pose unacceptable risks while closely monitoring high-risk applications.
Consumers will see the implementation of the act over three years, with provisions for transparency, human oversight, and the logging of AI system usage.
The act addresses concerns over AI-generated deepfakes and election-related content, requiring clear disclosures for AI-generated images, video, and audio.
Violations of the AI Act could lead to fines up to 7% of a company's global revenue or up to 35 million euros, with enforcement expected by 2026.