【European Uni】World’s First Comprehensive AI Regulation Law Enacted in EU, with Fines of Up to 35 Million Euros for Violations

Editor’s Note

The European Union has enacted the world’s first comprehensive AI law, establishing a risk-based regulatory framework. This landmark legislation sets a global precedent for governing artificial intelligence.

World’s First Comprehensive AI Regulation

The European Union (EU) has approved and enacted the world’s first comprehensive Artificial Intelligence (AI) regulation bill, which was endorsed by member states.

Risk-Based Classification and Prohibitions

The AI Act, approved and enacted at an EU ministerial meeting on the 21st, classifies AI systems according to their level of risk. It prohibits the use of AI considered most dangerous, such as AI that manipulates human behavior or evaluates a person’s social credit score.

Transparency Requirements for Generative AI

Furthermore, the law mandates that companies clearly disclose when images, text, or other content has been generated by AI.

Substantial Fines for Non-Compliance

In case of violations, fines of up to 35 million euros (approximately 6 billion Japanese yen) or 7% of the company’s annual global turnover, whichever is higher, will be imposed.

Pioneering Legislation with Future Implementation

This is the world’s first regulation governing the development and use of AI and is expected to fully come into force two years from now, in 2026.

Full article: View original |
⏰ Published on: June 02, 2024