Historic Landmark For The European Parliament As Lawmakers Pass New AI Regulation Act

The European Parliament has given a green light to the new AI Act. The latter is designated for the complete regulation of artificial intelligence and this represents crossing a huge hurdle in terms of regulating AI in the Western region.

Today, so many leading firms are battling with AI and the risks associated with it due to poor regulation. But with generative AI trending as we speak, this was certainly necessary for the most comprehensive regulations of them all.

Generative AI has the tendency of coming up with all sorts of content. Be it images, marketing, academics, and more- the list is endless. But with that comes a long list of woes and worries regarding the displacement of jobs and even issues like bias.

The Parliament adopted this new law with a majority of the votes in its favor. Moreover, such a regulation isn’t quite a law right now as there are some more hurdles to pass. But as the way things are going, it might soon turn into the initial rule of its kind from all over the world.

So many members of the European Parliament felt that tools such as the very popular and successful ChatGPT needed more restrictions. Therefore, this means developers from the AI domain would be needed to put out new systems for review before they plan on giving it a public launch.

This Parliament also opted to put out new companies with bans regarding biometrics and even a new form of grading called social scoring.

But with that being said, we’re seeing plenty of campaigners from different groups that advocate for human rights mention how a new plan was in store to water down such a ban. But those in the legal system went full throttle and opted to stop biometric surveillance via settings done publicly.

Such rules and regulations end up having some major implications regarding AI models like Microsoft’s ChatGPT and even Google’s AI chatbot called Bard.

Critics are looking at this AI Act as something that’s designed to create the right guardrails in place and utilize such technologies to make sure we’ve got innovation at its peak and also the technology making room for more benefits in society.

These seem to be the correct goals as mentioned by CNBC recently. Moreover, the next round of hurdles would involve another executive body of the European Union with 27 states included.

Read next: Microsoft Rushed To Add An Under-Development GPT-4 Version To Its Bing Chat Despite Warning From OpenAI
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