Europe leading efforts to guard AI from possible risks

The European Parliament committee voted to strengthen the EU's Artificial Intelligence (AI) Act draft legislation on Thursday. The legislation has been years in the making, as the EU races to set guidelines for AI development amid concerns over the technology's risks and benefits. The new regulations will classify AI systems into four levels of risk, ranging from minimal to unacceptable, with riskier applications subject to stricter requirements such as using accurate data and being more transparent.

The aim is to protect fundamental rights and values, including avoiding social scoring systems and AI that exploits vulnerable people, among other applications. High-risk AI systems, such as those used in employment and education, will have to face tough requirements. The regulations will also cover general-purpose AI systems, such as ChatGPT, and require thorough documentation of any copyright materials used to teach them how to generate human-like work.

Violations will attract fines of up to €30m ($33m) or 6% of a company's annual global revenue. The legislation is crucial as the EU, with its 450 million consumers, seeks to set de facto global standards, with lawmakers looking to develop the AI market and build confidence among users.

European Union lawmakers are expected to begin negotiating the final details with member states this summer, with the aim of reaching a final agreement by the end of the year. If passed, the rules could come into effect as soon as 2025.

However, the EU's proposal has faced criticism from some tech industry groups, who argue that it could stifle innovation and limit the development of AI technologies. Some have also expressed concern about the potential for the rules to create a fragmented regulatory landscape, with different countries and regions adopting different approaches to regulating AI.

Despite these concerns, many experts believe that the EU's rules could set a global standard for AI regulation, as other countries and regions look to develop their own frameworks for governing the technology.

As the use of AI becomes increasingly widespread, it is clear that regulation is necessary to ensure that the technology is developed and deployed in a responsible and ethical manner. With its proposed legislation, the European Union is taking a leading role in shaping the future of AI, and the world will be watching closely to see how its rules evolve in the years to come.