AI Risk management

Artificial Intelligence Act sealed EU Parliament

The European Parliament has approved a new Artificial Intelligence Act (AIA) that regulates the use of AI in the EU. The Artificial Intelligence Act is aimed at ensuring that AI is developed and used in a safe, ethical, and transparent manner. The AIA will apply to all AI systems developed or used in the EU, as well as to systems imported into the EU. The Artificial Intelligence Act bans certain AI practices, such as social scoring and real-time biometric identification, that are considered harmful.
The AIA creates a risk-based approach to regulation, with AI systems being classified as low-risk, high-risk, or prohibited based on their potential impact on health, safety, and fundamental rights. High-risk AI systems will require specific requirements, such as human oversight, transparency, and traceability.
The AIA imposes strict transparency and information requirements on developers and users of AI systems. The AIA establishes a European Artificial Intelligence Board to oversee the implementation of the regulation and provide guidance to Member States. The AIA is expected to have a significant impact on the development and use of AI in the EU and beyond. The Artificial Intelligence Act still needs to be approved by the Council of the EU before becoming law.