#102 Benefits of the European Ai Act

Hey folks,

It’s Friday again and we are gearing up for something huge, you will have to wait until next week to hear about that…or perhaps the week after lol. Good things sometimes take time…!

In the meantime, we wanted to share the current enthusiasm about AI and the EU AI act which will be forging ahead.

The European Artificial Intelligence Act (AI Act) is a world-first piece of legislation that aims to regulate the development and use of AI systems within the European Union. It takes a risk-based approach, with different requirements depending on the level of risk associated with the AI system. For example, high-risk AI systems must be transparent, traceable, and subject to human oversight. Certain AI practices will be banned altogether, such as social scoring and the use of subliminal techniques to manipulate behaviour.

The AI Act is a significant step towards ensuring that AI is developed and used responsibly and ethically in Europe. It strikes a balance between the protection of individual rights and encouraging the development of AI technologies that can be beneficial for society as a whole. The AI Act could also impact the global AI industry, as it could set a precedent for other countries and regions to adopt similar regulations.

The AI Act is still under development, but it has the potential to be a major milestone in the regulation of AI. It is a positive development that the EU is taking steps to ensure that AI is used for good and not for harm.

Here are some of the potential benefits of the AI Act:

It can help to protect individuals from the risks of AI, such as discrimination and bias.

It can help to ensure that AI is used in a responsible and ethical way.

It can help to promote innovation in AI by creating a level playing field for businesses.

It can help to ensure that Europe remains a leader in the global AI industry.

The AI Act is not without its challenges, but it is a step in the right direction. It is important to carefully consider the potential unintended consequences of the regulation and to make sure that it is implemented and enforced effectively. However, the AI Act has the potential to be a major milestone in the regulation of AI and to help ensure that this technology is used for good.

You can also watch the first video where I discussed AI Regulation with EU Digital Ambassador Nicolas Babin here (more to come on this topic in the next few weeks).

Media not displaying properly watch it here: https://youtu.be/rintpg_kmyg?si=RxDD3GP8jQe5JqqL

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