“AI is too important not to regulate, and too important not to regulate well”
The European Parliament approved a first draft of a bill known as the “AI Act,” an initial step toward government regulation of artificial intelligence.
499 votes in favor, 28 against, and 93 abstentions
Engaging in prohibited AI practices could lead to a fine of either €40 million ($43 million) or an amount equal to 7% of a company’s worldwide annual turnover, whichever is higher — stiffer than the fines for breaking general data protection regulation (GDPR) rules.
Negotiations now begin between EU lawmakers and member states to finalize the bill’s details, a process that could take another two years.
“If this technology goes wrong, it could do significant harm to the world.” —Sam Altman, CEO of OpenAI
Create a free account to keep reading.
