The new European law on artificial intelligence (AI), a regulatory milestone in the field of technology, is set to enter into force soon. This legislation, the first of its kind globally, establishes a comprehensive regulatory framework for the use of AI in the European Union (EU). The following is a restructuring of the information available on this law, focusing on its date of entry into force, the classification of AI risks and the sanctions regime envisaged.
- Regulatory Framework and Risk Classification
The European AI Law proposes a risk classification system for AI applications, divided into four categories: unacceptable risk, high risk, limited risk and minimal risk. This classification seeks to ensure the safety and confidence of European users in the technology they use. Unacceptable risk” AI systems, which include those that cognitively manipulate the behavior of vulnerable people or employ remote facial recognition, will be banned.
- Fines and Regulatory Compliance
In terms of compliance, the law provides for significant fines for violations. These fines range from EUR 7.5 million to EUR 35 million, or 7% of the overall turnover of the offending company, depending on the nature of the infringement and the size of the company. They are articulated in three levels depending on the type of infringement, ranging from incorrect information to breaches of obligations and violations of prohibited applications.
- Progress and Next Steps
The law has been proposed by the European Commission and has gone through several stages of approval. As of June 2023, MEPs adopted their negotiating position on the law, and talks on the final form of the law are expected to continue in the EU Council, with the aim of reaching an agreement by the end of this year.
With this legislation, the EU seeks to strike a balance between encouraging innovation in the field of AI and protecting the rights and security of its citizens. What impact do you think this new law will have on the development and use of artificial intelligence in Europe and globally?