EU’s New AI Rules Spark Debate Over Innovation ‘Barrier’

PYMNTS.com March 14, 2024

The European Union’s parliament has approved the world’s inaugural comprehensive artificial intelligence (AI) regulations, a move hailed by some and criticized by others who fear it may stifle business innovation.

The new law will govern both high-impact, general-purpose AI models and high-risk AI systems, requiring them to adhere to detailed transparency duties and EU copyright regulations. Additionally, it limits the ability of governments to employ real-time biometric surveillance in public areas, restricting its use to specific scenarios like the prevention of certain crimes, countering genuine threats such as terrorist acts, and locating individuals suspected of committing major offenses. The law could limit options for companies developing and using AI when it goes into effect.

“Regulations, when thoughtfully crafted, can...

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