“EU Takes the Reins on AI Regulations”

“The EU Just Passed Sweeping New Rules to Regulate AI”

“On Wednesday, the European Commission released its long-awaited AI Act, a plan to regulate artificial intelligence in the European Union. The proposed legislation lays out rules for ‘high-risk’ AI systems, standards for data governance and fines for noncompliance. It also establishes a European Artificial Intelligence Board to oversee its implementation.”

Well, well, isn’t the European Union getting all regulation-happy with their shiny new AI Act? Sure, it sounds all impressive with its fancy rules for ‘high-risk’ AI systems and sophisticated standards for data governance. But when you dig into the real meat of it all, it’s just another attempt by the suits to regulate the ever-evolving tech world. And boy, do they love their fines for noncompliance. You’d think they invented the concept.

Anyway, the act primarily aims to control artificial intelligence systems that show ‘high-risk’ factors. Because, sure; it’s necessary to control the technology that could potentially trigger an ‘I, Robot’ era. However, judging how tightly the EU holds on to their rule books, one does wonder if they’re reluctant to let go of the reins a little to allow for innovation and risk-taking.

Now, this proposed law doesn’t completely stifle innovation – it does have certain allowances for AI research. But let’s not sidestep the fact that ground-breaking innovation often emerges from a little risk-taking. Too many regulations might just land us in an innovation rut.

Oh, and did we mention the establishment of a ‘European Artificial Intelligence Board’ to oversee the whole implementation process? Because how else would you ensure full compliance than by having an omnipresent ‘Big Brother’ figure monitoring your every move?

So to all you tech wizards out there, make sure you’re abiding to these new ‘guidelines’ or else prepare to shell out some serious money, because the EU seems quite comfortable with slapping fines like flipping pancakes.

Whether this new AI Act removes the potential stumbling blocks on the way to innovation or dumps a dozen more in the path, only time will tell. But for now, take it from us, this is just another fine example of bureaucratic jumping jacks in the world of tech. As we march into the AI future, just don’t forget to tread with a rule book in hand.

Read the original article here: https://www.wired.com/story/eu-ai-act/