A provisional agreement for Artificial Intelligence Regulation in the European Union was published in December 2023, which represents a historic milestone for the European continent.
The provisional agreement for Artificial Intelligence Regulation covers a number of important areas, ranging from transparency in algorithmic decisions to the protection of citizens’ fundamental rights. The measure marks a significant step forward in the search for guidelines that balance technological advancement with the protection of fundamental rights and values.
The proposed regulation aims to ensure that AI technologies, such as chatGPT, are developed and used in line with European values, ensuring that they do not compromise citizens’ privacy or violate fundamental rights. The initiative also covers the use of AI in sensitive sectors such as health and security, promoting trust and widespread acceptance of these innovations.
This agreement shapes the future of AI in Europe and sends a global message about the need for robust regulations in the field of technology. The European approach can serve as a benchmark for other countries seeking to balance technological innovation with ethical and social concerns.
Companies that fail to follow the new guidelines could face fines of 35 million euros or 7% of revenue.
Written by Marcos Ferreira, Content Assistant at Drummond Advisors