The world’s first regulations for the AI Act and the rapidly evolving AI technology were adopted by members of the European Parliament yesterday the 13th of March. The regulation,which was agreed by member states following negotiations in December 2023, was finally endorsed by MEPs with 523 votes in favour, 46 against and 49 abstentions (Source). EU policymakers have lauded the approval of the Act, but critics have warned that the legislation represents a giveaway to corporate interests, with one EU policy analyst stating that the digital policies are being used as a “testbed for oppressive surveillance representing a blatant attack on everyone’s fundamental rights” as most of us would now have expected anyway.

A “Risk Based Approach”
The regulations which are expected to take effect in May or June after some final formalities with various provisions entering into force over the next few years “applies a “risk-based approach” to AI products and services.” the Associated Press reported on Wednesday, they wrote: “The vast majority of AI systems are expected to be low risk, such as content recommendation systems or spam filters. Companies can choose to follow voluntary requirements and codes of conduct. High-risk uses of AI, such as in medical devices or critical infrastructure like water or electrical networks, face tougher requirements like using high-quality data and providing clear information to users.”

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