World’s First Artificial Intelligence Law is all set to be a reality in Europe: 14 Mar 2024

Key Features:

• The AI Act introduces world-leading rules for AI applications, emphasizing a human-centric and controlled approach to technology.
• Operational Mechanism:
  • Categorizes AI systems based on risk levels, from low to high, with corresponding regulatory scrutiny.
  • Low-risk AI applications face minimal regulations, while high-risk uses face stringent requirements and some applications are outright banned.

• Generative AI Regulation:
  • Recent updates address generative AI models, requiring transparency in training data and adherence to copyright laws.
  • Obligations for labeling AI-generated deepfakes and additional scrutiny for powerful AI models due to systemic risk concerns.

Global Influence and Adoption:

• Europe’s pioneering efforts in AI regulation may set a precedent for other regions, including the US, China, and beyond.

Implementation Timeline and Enforcement:

• Expected law enactment by mid-2024 with phased application of provisions.
• National AI watchdogs to enforce regulations, with significant penalties for violations.

Why in News: 

• European Parliament set for final approval of the Artificial Intelligence Act, potentially influencing global AI regulation.