EU reaches agreement on AI regulation framework
European Union lawmakers finalized the AI Act, establishing rules for artificial intelligence development and deployment.
The framework includes restrictions on facial recognition and requirements for transparency in AI systems.
Companies violating the rules face fines up to 7% of global revenue.
The legislation will take effect in 2027 after a transition period.
Why it matters
The EU AI Act is the first comprehensive AI regulation framework and may influence policy in other regions.
When
2027: AI Act takes effect after transition period. Companies have until then to achieve compliance.
Who supports this
European Parliament. Consumer advocacy groups including BEUC (European Consumer Organisation). AI safety research organizations.
Who opposes this
Tech industry trade groups including DigitalEurope. Some AI companies citing concerns about competitive disadvantage versus US and Chinese firms.
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