“Europe is the global AI standard-setter,” Thierry Breton, EU Commissioner for the Internal Market, said on social network X.
Roberta Metsola, president of the European Parliament, said the pioneering legislation would facilitate innovation while protecting core values. “Artificial intelligence has become an important part of our lives. Now it will also be part of EU law,” the EU leader wrote in a post.
Set to be developed in 2021, the EU AI law classifies technologies according to their risk level, from “unacceptable” – meaning a ban on release – to high, medium and low risk.
Some European countries, such as Germany and France, support “self-regulation” by member governments in their management of AI businesses, fearing that overly strict regulations could reduce competitiveness with Chinese and American companies.
Last week, the EU introduced its Digital Markets Act, which aims to curb the power of US tech giants like Apple, Google, Amazon, Meta and Microsoft, as well as China’s ByteDance. Under the law, the EU can crack down on what it considers anti-competitive practices, and force companies to be more “open” in areas where they dominate, giving consumers more choice.
These concerns have grown with the explosion of AI, led by leading tech companies like Microsoft, Amazon, Google and chip designer Nvidia.
Human control of technology
“The AI Act has accelerated the development of AI in a way that puts humans in control of the technology and that will help us drive new discoveries for economic growth, social progress and the release of human potential,” said Dragos Tudorache, an MEP who oversaw the EU’s discussion of the bill.
Accordingly, the passing of the AI management law is not the "end point" for this technology sector, but instead it is the starting point for a new governance model built on technology.
Legal experts say the law is a milestone for international AI regulation and could pave the way for other countries to follow suit.
Passing the law is just the beginning and businesses will need to work closely with lawmakers to understand how it will be implemented, said Mark Ferguson, public policy expert at Pinsent Masons.
“Once again, the EU has gone ahead and developed a comprehensive set of regulations,” said Steven Farmer, partner and AI expert at international law firm Pillsbury. “The bloc has been early in its efforts to regulate data and the same goes for AI.”
Still, there are concerns. Emma Wright, a partner at law firm Harbottle & Lewis, is concerned that the provisions of the law could quickly become outdated in a fast-moving and constantly evolving field.
“Given the pace of change in technology as seen with the introduction of AI since late last year, one complication that could arise is that the EU AI Act could quickly become outdated, especially given the timeframe for implementation.”
With 523 votes in favor, 46 against and 49 abstentions, the EU AI Act was officially adopted, expected to come into force next May, after the final legislative processes are carried out. The contents will be implemented gradually from 2025 onwards.
(According to CNBC)
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