EU Likely to Reach Political Agreement on AI Law This Year, Says Tech Regulator Chief Vestager

The European Union is likely to reach a political agreement this year that will pave the way for the world's first major artificial intelligence (AI) law, the bloc's tech regulation chief Margrethe Vestager said on Sunday.

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This follows a preliminary deal reached on Thursday by members of the European Parliament to push through the draft of the EU's Artificial Intelligence Act to a vote by a committee of lawmakers on May 11.

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Parliament will then thrash out the bill's final details with EU member states and the European Commission before it becomes law.

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At a press conference after a Group of Seven digital ministers' meeting in Takasaki, Japan, Vestager said the EU AI Act was "pro-innovation" since it seeks to mitigate the risks of societal damage from emerging technologies.

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Regulators around the world have been trying to find a balance where governments could develop "guardrails" on emerging artificial intelligence technology without stifling innovation.

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"The reason why we have these guardrails for high-risk use cases is that cleaning up … after a misuse by AI would be so much more expensive and damaging than the use case of AI in itself," Vestager said.

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EU Likely to Reach Political Agreement on AI Law This Year, Says Tech Regulator Chief Vestager

While the EU AI Act is expected to be passed by this year, lawyers have said it will take a few years for it to be enforced.

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The European Union is likely to reach a political agreement this year that will pave the way for the world's first major artificial intelligence (AI) law, the bloc's tech regulation chief Margrethe Vestager said on Sunday.

Brought to you by Trickyenough

This follows a preliminary deal reached on Thursday by members of the European Parliament to push through the draft of the EU's Artificial Intelligence Act to a vote by a committee of lawmakers on May 11.

Brought to you by Trickyenough

Parliament will then thrash out the bill's final details with EU member states and the European Commission before it becomes law.

Brought to you by Trickyenough

At a press conference after a Group of Seven digital ministers' meeting in Takasaki, Japan, Vestager said the EU AI Act was "pro-innovation" since it seeks to mitigate the risks of societal damage from emerging technologies.

Brought to you by Trickyenough

Regulators around the world have been trying to find a balance where governments could develop "guardrails" on emerging artificial intelligence technology without stifling innovation.

Brought to you by Trickyenough

"The reason why we have these guardrails for high-risk use cases is that cleaning up … after a misuse by AI would be so much more expensive and damaging than the use case of AI in itself," Vestager said.

Brought to you by Trickyenough