The EU's AI Act is the first comprehensive legal framework for AI in the world, establishing rules on data quality, transparency, human oversight, and accountability across the Europe. The act also aims to ensure that AI systems respect fundamental rights, safety, and ethical principles, and address risks of very powerful AI models.
The AI Act divides technology into categories of risk hazards — Unacceptable, High, Medium, and Low. Technology that is considered "unacceptable" will be banned. The act also aims to guarantee the safety and fundamental rights of people and businesses when it comes to AI, and strengthen uptake, investment, and innovation in AI across the EU.
Below're some prominent features of the AI Act:
Risk-Based Approach: The Act classifies AI systems based on the risk they pose, ranging from 'unacceptable' risks, which are banned, to 'high-risk' systems, which are authorized but subject to strict requirements.
Fundamental Rights: The Act ensures that AI systems respect fundamental rights, safety, and ethical principles.
Annex III: This annex is crucial as it lists AI applications that must comply with most of the Act's requirements.
Effect on The Global Technology Landscape
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The EU AI Act is expected to have a significant impact on countries around the globe, similar to the influence of the EU's General Data Protection Regulation (GDPR). Here are some ways it could affect other nations:
Global Standard: The EU AI Act may set a new global standard for AI regulation, influencing other countries to adopt similar measures.
Tech Companies Compliance: Global tech companies operating in the EU will need to comply with the Act, which could lead to changes in their AI systems worldwide.
Innovation and Regulation Balance: The Act aims to balance innovation with robust regulation, which could serve as a model for other countries looking to regulate AI without stifling technological advancement.
Global Digital Rule-Maker: The EU's role as a global digital rule-maker could be strengthened, potentially leading to a broader adoption of its regulatory framework.
Risk Awareness: The Act raises awareness of the risks associated with AI applications, which could influence global discourse and policy-making.
Overall, the EU AI Act could redefine the tech landscape by setting precedents for AI governance that other countries might follow.
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