Europe Adopts Historic AI Regulation

The European Union has just reached a historic milestone by adopting the AI Act, the world's first comprehensive legal framework to regulate artificial intelligence. This regulation classifies AI systems according to their risk level, ranging from unacceptable risk (prohibited) to minimal risk (free use). Certain AI applications will be totally banned in Europe, such as social scoring of citizens, mass biometric surveillance and cognitive manipulation systems. Tech companies will have two years to comply with the new rules. Fines can reach up to 7% of global turnover.