PYMNTS.com May 21, 2024

The European Council (EC) has approved the Artificial Intelligence (AI) Act, saying this law is the first of its kind in the world and may set a global standard for the regulation of AI.

The new law aims to harmonize rules on AI; promote the use of “safe and trustworthy” AI systems across the European Union (EU); and ensure respect of the rights of EU citizens, the EC said in a Tuesday (May 21) press release.

“With the AI act, Europe emphasizes the importance of trust, transparency and accountability when dealing with new technologies while at the same time ensuring this fast-changing technology can flourish and boost European innovation,” Mathieu Michel, Belgian secretary of state for digitization, administrative simplification, privacy...

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Topics: AI (Artificial Intelligence), Govt Agencies, Regulations, Technology
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