The European Union (EU) has been working on an Act that will give the world the largest law decision ever made on AI. Once agreed, it will become the lead for countries like America and China. The Act is due to be delivered in 2026.
In December 2023, the European Parliament (EP) and European Council (EC) reached a provisional agreement on the AI Act. It includes safeguards and protects the rights of consumers, with fines for non-compliance reaching up to 7% of a company’s global turnover. The EU strives for better regulation of AI and hopes it will provide key competitive advantages to companies and the European economy, ensuring values, fundamental rights, and principles are balanced within its framework.
During the implementation period, the European standards bodies are expected to develop standards for the AI Act. Many challenges lie before them. For example, if AI is not trained with high-quality data, then its conclusions can become inaccurate and this can cause challenges for high-risk sectors like law enforcement where accuracy, reliability, and transparency are important. Similarly, in the administration of justice, there is a risk of biases, errors, and a lack of transparency. AI systems for administrative activities are less of a threat but are guided by Union law, such as the protection of personal data.
This is a historical moment for the EU and must be difficult to complete with the ever-advancing and changing AI technology. Once in place, the act will motivate many countries and companies to participate in the implementation of laws and policies locally.
Learn more about the act at https://artificialintelligenceact.eu/ Our next article looks at the risks of AI in law.
