So, there’s some pretty wild stuff going down across the pond. The European Union is getting pretty serious about AI regulation. They’ve agreed to this new thing called the EU AI Act, and it’s going to set some serious rules around how AI can be used. And guess what? Big businesses are going to need to start getting their ducks in a row if they want to keep using AI.
According to the agreement, the EU AI Act is going to outlaw certain AI applications but there’s going to be some exemptions for law enforcement. It’s also going to place some obligations on high-risk AI systems, and make developers provide technical documentation on generative AI. I guess they’re really cracking down on AI use across the EU, trying to keep it fair and safe for everyone.
This is going to be huge for businesses using AI for things like workforce management and cybersecurity. They’re going to have to overhaul their systems and products to comply with these new rules. And guess what? If they don’t, they could be looking at fines up to nearly $38 million. Yeah, that’s million with an “M”.
But the thing is, this isn’t just some EU thing, right? There’s talk that the U.S. might take a page from the EU’s book on this one and implement some similar rules and regulations. So, it’s really looking like AI regulation might start picking up some steam in the U.S. too.
One thing’s for sure, this is just the beginning of some major changes for how AI is going to be used and regulated in society. It’s a new era, folks. Time to start preparing.