The European Union's AI Act, which came into effect on August 1, 2023, allows regulators to ban AI systems deemed to pose "unacceptable risk" as of February 2, 2024. The Act categorizes AI applications into four risk levels, with unacceptable risks including social scoring, deceptive manipulation, and certain biometric uses. Companies violating these rules could face fines up to €35 million or 7% of annual revenue. While over 100 companies have pledged compliance, including tech giants like Amazon and Google, clarity on specific guidelines is still pending, with further details expected in 2025.
What are your thoughts on the balance between innovation and regulation in AI technology? Do you think the EU's approach is the right way forward?
Source: https://techcrunch.com/2025/02/02/ai-systems-with-unacceptable-risk-are-now-banned-in-the-eu/
What are your thoughts on the balance between innovation and regulation in AI technology? Do you think the EU's approach is the right way forward?
Source: https://techcrunch.com/2025/02/02/ai-systems-with-unacceptable-risk-are-now-banned-in-the-eu/