How EU’s AI Act Will Affect Businesses

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If passed into law, the EU’s comprehensive AI Act will affect all enterprise businesses using AI with operations in the EU, reports Makenzie Holland. And, the act may also provide an example to other governments of how to regulate AI.

According to the latest agreement, the act includes safeguards to ensure that fundamental rights, democracy, the rule of law and environmental sustainability are protected from high risk AI. These include: 

  • Prohibiting biometric categorization systems that use sensitive characteristics (e.g., political, religious, philosophical beliefs, sexual orientation, race)
  • Bans on social scoring and AI used to manipulate or exploit user vulnerabilities
  • Right of consumers to launch complaints and receive meaningful explanations
  • Fines up to 35 million euros or 7% of global turnover

Read more at TechTarget.

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