The European AI Act, the world's first comprehensive AI law intended to protect consumers from the dangers of artificial intelligence (AI), has been given the green light. A law that provides frameworks and that we should all welcome, given the speed at which AI is gaining ground in our society, in the way we live and work.
Companies see the benefits of European AI and want to explore and experiment with it. Consumers are curious, but also have concerns. They want individual protection and to secure their privacy, they want to know what effect AI will have on them and to get transparency and clarity on that from organisations.
The new law provides those frameworks and clarity for companies to take responsibility on those very issues, and offers stricter rules and more oversight as risk increases and as AI is used in vital sectors.
AI is not going away, and it is therefore extremely important that this legislation comes into force. Consistent regulation in Europe is essential in our technological progress, building trust and improvement for the future. Also, a level playing field and harmonisation of rules in Europe is important for the competitiveness of entrepreneurs, as a good framework also makes it easier for organisations to invest in innovation.
