US – The newly established legislation, the AI Act, is designed to construct a regulatory framework that encourages AI development while mitigating associated risks arising from its rapid evolution.

In a landmark decision, the legislation enforces a ban on harmful AI practices perceived as threats to people’s safety, livelihoods, and fundamental rights. With mounting concerns over the disruptive potential of artificial intelligence, the EU’s strategic move aims to address these challenges, setting a precedent for global AI governance.

During a news conference, European Parliament President Roberta Metsola hailed the legislation as a “balanced and human-centred approach,” asserting its potential to set the international standard in AI governance for years. Initially proposed in 2021, this regulatory framework categorizes AI applications based on risk levels and imposes stricter regulations on higher-risk AI uses.

EU Commissioner for Internal Market, Thierry Breton, emphasized the expansive scope of the AI Act, describing it as more than just a rulebook. Taking to X, Breton highlighted the historic significance of the EU’s leadership in establishing clear guidelines for AI use, affirming that the AI Act acts as a catalyst for EU startups and researchers to lead the global AI race, hinting at promising advancements in the field.