Europe introduces landmark AI law that will set global standards

Reuters reported on May 21 that European Union (EU) member states have agreed to adopt AI regulations that will come into effect next month. Along with the continuous development of generative AI systems, the risks of AI causing misinformation and fake news have also increased rapidly globally in recent times.

Europe introduces landmark AI law that will set global standards on May 21, 2024.

“This landmark legislation is a world first, addressing a global technological challenge while creating opportunities for our societies and economies ,” said Mathieu Michel, Belgian Secretary of State for Digitalisation. “With the AI Act, Europe underlines the importance of trust, transparency and accountability when dealing with new technologies, and ensures that this rapidly changing technology can drive European innovation.”

Patrick van Eecke of the Belgian law firm Cooley said the new law would have an impact beyond the 27-nation bloc. "The act will have a global reach. Companies outside the EU that use EU customer data in their AI platforms will need to comply. Other countries and regions can use the AI Act as a blueprint, just as they did with the General Data Protection Regulation (GDPR)," Eecke said of the privacy implications of the act.

Obligations for general-purpose AI models will apply after 12 months, and regulations for AI systems embedded in regulated products will apply after 36 months. Fines for violations range from $8.2 million, or 7% of global turnover, depending on the type of violation.

Source: https://thanhnien.vn/chau-au-dua-ra-luat-ai-buoc-ngoat-dinh-hinh-tieu-chuan-tren-the-gioi-185240522120954018.htm