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Generative AI has been a rare bright spot in a European technology market suffering from declining funding and declining valuations.
Yuichiro Chino | moment | Getty Images
The European Parliament has approved the bloc’s landmark rules for artificial intelligence, known as the EU AI Act, removing a major hurdle to the first formal regulation of artificial intelligence in the West becoming law.
The rules are the first comprehensive regulations for artificial intelligence, which has become a major battleground in the global tech industry, as companies vie for a leading role in technology development — particularly generative AI, which can generate new content from user prompts.
What generative AI can do, from producing lyrics to creating code, has astounded academics, business people, and even school students. But it has also led to concerns about job shedding, misinformation, and bias.
During a critical vote on Wednesday, Parliament adopted the Amnesty International bill by 499 votes in favor, 28 against, with 93 abstentions. The regulation is far from becoming law, but it is likely to be one of the first official rules for technology globally.
MEPs have agreed to place generative AI tools such as ChatGPT under greater restrictions. Generative AI developers will be required to submit their systems for review before they are commercially released.
Parliament also decided to uphold a ban on real-time biometric identification systems, as well as controversial “social assessment” systems.
Human rights activists have expressed concern about the European People’s Party’s attempt to ease the ban. However, lawmakers went ahead with it and agreed to ban biometric surveillance from all public places.
The laws have huge implications for developers of generative AI models, such as Microsoft-backed ChatGPT OpenAI and Google’s Bard.
Jens-Henrick Jepenssen, senior director of public policy at Workday, said the AI ​​law aims to “build safeguards into the development and use of these technologies to ensure that we have an innovation-friendly environment for these technologies so that society can benefit from them.”
“These are the right goals from my point of view,” he told CNBC after the vote.
The next stage is for negotiators in EU institutions, such as the EU’s executive body and its 27 member states.
Earlier today, Github CEO Thomas Dohmke called on European regulators to listen to the private sector as he moves forward with setting rules for AI.
“We encourage the European Union and the US government to move very quickly and listen to those who have built the technology, not only in business, but also in universities and open source communities,” Dhumki told CNBC’s Arjun Karpal.
This comes as countries around the world look forward to introducing norms and standards for AI.
On Monday, British Prime Minister Rishi Sunak made a bold bid to make the UK the “geographic home” of safety regulations for artificial intelligence. The government is also preparing to hold a global AI safety summit later this year.
He watches: Goldman Sachs says that AI regulation is almost trying to move in parallel with innovation
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