Subj : EU passes landmark AI act, paving the way for greater AI regulati
To   : All
From : TechnologyDaily
Date : Wed Mar 13 2024 16:30:06

EU passes landmark AI act, paving the way for greater AI regulation

Date:
Wed, 13 Mar 2024 16:17:47 +0000

Description:
While the AI act is a step in the right direction, the pace of innovation may 
still outstrip regulation

FULL STORY
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The European Parliament has passed its long awaited AI act that it hopes will 
provide the legal infrastructure for regulating artificial intelligence. 

While AI has contributed massively to increases in productivity and has 
resulted in major innovations in critical industries such as science and 
healthcare, many fear that the speed of its development may be outstripping 
the ability to regulate it. 

The new act therefore provides a legal framework for categorizing and 
scrutinizing AI, and acts as a stepping stone towards future regulation. One 
small step for regulation, one giant leap for AI 

A number of governments around the world have introduced individual laws and 
regulations to target specific issues related to AI, but this latest 
legislation from the European Parliament works by establishing a risk level 
for each product, with the highest risk products receiving the most scrutiny. 

The high risk products would be those used in critical industries such as 
healthcare, defense, and law enforcement would be subject to the greatest 
level of checks and regulation. The AI act is still yet to pass through the 
European Council, but is expected to do so with little friction. 

Speaking on today's ruling, IBM Vice President and Chief Privacy and Trust 
Officer, Christina Montgomery, said, I commend the EU for its leadership in 
passing comprehensive, smart AI legislation. The risk-based approach aligns 
with IBM's commitment to ethical AI practices and will contribute to building 
open and trustworthy AI ecosystems. 

IBM stands ready to lend our technology and expertise  including our 
watsonx.governance product  to help our clients and other stakeholders comply 
with the EU AI Act and upcoming legislation worldwide so we can all unlock 
the incredible potential of responsible AI. 

A number of companies, IBM included, have been pushing for greater regulation 
on the rapid advancement of AI capabilities due to the threat of their 
potential misuse on elections, trustworthy information, and cybersecurity. 

Last year, President Biden issued an executive order on safe, secure and 
trustworthy AI, which combined the general voluntary agreements made by AI 
developers into one all encompassing commitment. More from TechRadar Pro 
Microsoft Copilot for Security could be the AI-powered secret to keeping your 
business safe These are the best AI tools Are we exaggerating AI capabilities?



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Link to news story:
https://www.techradar.com/pro/eu-passes-landmark-ai-act-paving-the-way-for-gre
ater-ai-regulation


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