On February 13th, the European Parliament gave its seal of approval to a significant development: a preliminary agreement on regulations concerning artificial intelligence (AI). This landmark decision sets the stage for the world's first legislation dedicated to the governance of AI technologies.

Source: X (@EP_Justice)

Press release indicates that the European Parliament's civil liberties (LIBE) and internal market (IMCO) committees were in favor of regulating AI activities within the European Union. They are ready to establish rules that address the potential risks and impacts associated with AI advancements.

The overarching objective is to foster innovation and position Europe as a global leader in AI. At the same time, they want to safeguard fundamental rights, democratic principles, and environmental sustainability from potential AI-related challenges. Among the key provisions, the agreement prohibits and oversees:

AI applications that pose threats to individual rights. For instance, indiscriminate surveillance through facial recognition technologies.
AI systems that could impact public health and safety. Citizens within the EU will be empowered to raise concerns and seek clarifications regarding AI-related decisions.
AI resources that manipulate human behavior or exploit vulnerabilities. It mandates transparency and compliance with EU copyright laws for all AI systems deployed for general purposes.

The document awaits official adoption at the upcoming plenary session of the parliament and final approval by the Council in the spring of 2024. If the law is passed, it will come into effect 24 months after its enactment.

Learn more about AI in our other posts: "The Role of AI in the Finance Industry" and "Top AI Themed Movies You Must Watch".

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