Europe’s New AI Regulation: What You Need to Know
On June 14, 2023, the European Union (EU) published its new Artificial Intelligence (AI) Regulation. The regulation is designed to ensure that AI systems developed and used in the EU are safe, fair, and accountable.
The regulation covers a wide range of AI systems, including those used for facial recognition, natural language processing, and decision-making. It sets out a number of requirements for developers and users of AI systems, including:
- Transparency: Developers must provide information about how their AI systems work, including the data they use and the algorithms they employ.
- Fairness: AI systems must not discriminate against individuals on the basis of their race, gender, religion, or other protected characteristics.
- Accountability: Developers and users of AI systems must be able to explain how their systems work and why they make the decisions they do.
The regulation also establishes a new European Artificial Intelligence Board (EAIB) to oversee the implementation of the regulation. The EAIB will be responsible for providing guidance to developers and users of AI systems, and for investigating complaints about AI systems that violate the regulation.
The EU’s new AI Regulation is a significant development in the regulation of AI. It is the first comprehensive regulation of AI in the world, and it is likely to have a major impact on the development and use of AI in the EU.
Here are a few real-world examples of how the EU’s new AI Regulation could impact businesses:
- A company that develops facial recognition software will need to provide information about how the software works, including the data it uses and the algorithms it employs.
- A bank that uses AI to make lending decisions will need to ensure that its AI system does not discriminate against borrowers on the basis of their race, gender, or religion.
- A healthcare provider that uses AI to diagnose diseases will need to be able to explain how its AI system works and why it makes the diagnoses it does.
The EU’s new AI Regulation is a complex piece of legislation. However, it is important for businesses to understand the regulation and to take steps to comply with it. By doing so, businesses can help to ensure that their AI systems are safe, fair, and accountable.