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Learn about one approach to AI regulations!

The WSJ had at least 3 articles on AI this morning. AI is now used on a daily basis, but regulation is only just catching up. What are the intricacies of AI Regulation? Read below to find out more, and follow MK Fintech Partners Ltd to receive updates. from real industry experts 😁 #ArtificialIntelligence #AIRegulation #EULegislation #EUAIACT #USLegislation #UKLegislation #AISectorDeal #FintechIndustry #CryptoServices #LegalAssistants #FintechServices #MKFintechPartners

Thanks, Inge de Waard, PhD (She/Her, most of the time) for your interest in my opinion! Several comments: First, the AI ACT is a very important step forwards to international regulation. Second, the was massive lobbying in the end leading to many changes for good (the commons) and for bad (the commercial interests), see the Time Magazin. Third, the final text is not yet available and still under negotiation, therefore, I'm reluctant with a statement. Fourth, the versions of the AI ACT (until today) are impact-oriented (what is good) but not technology-independent (what is bad but would be possible) and in particular, the AI ACT is not based on the core values of human rights, democracy and rule of law. Therefore, I'm very pleased that the Council of Europe has identified the urgent need for AI&ED regulation and approved the AI&ED Expert Group. I'm more than happy to be member of it and to contribute to our common objective for an international conventione as regulation for ethical AI use in education. Now, we got the mandate from the Standing Conference of the European Ministries of Education and I hope that we can develop a first AI&ED law in summer 2024. See: https://lnkd.in/erPVvEhu

The European Parliament has adopted the Artificial Intelligence Act, marking a “landmark” in the regulation of AI in Europe, whilst “boosting innovation and establishing Europe as a leader in the field”. The new rules ban certain AI applications that are deemed to threaten citizen’s rights, as well as establishing obligations for AI based on potential risks and level of impact.  The Act sets out obligations for systems deemed “high-risk” in terms of health, safety or fundamental rights, including in critical infrastructure, education, employment, law enforcement, and justice and democratic processes.  Find out more: https://lnkd.in/eZkKi2hd    #EuropeanParliament #AI #Innovation    Stay up to date with the latest health tech #news at https://htn.international/    Follow us on Twitter: https://lnkd.in/eqeAPc98

📣 EUROPE'S AI ACT On Wednesday, March 13, 2024, the European Parliament approved the Artificial Intelligence Act, a significant piece of legislation aimed at ensuring the safety and compliance of AI systems with fundamental rights, while also fostering innovation within the European Union. This act is considered the world’s first major regulatory framework specifically designed to govern artificial intelligence. The AI Act categorizes AI technologies based on their level of risk, ranging from “unacceptable” to high, medium, and low hazard. Technologies deemed “unacceptable” will be banned, while high-risk AI systems will face stringent obligations. #AI #AIAct #Europe #EuropeanParliament

💡In the rapidly evolving landscape of AI, regulatory frameworks play a pivotal role in shaping the responsible development and deployment of AI technologies. In this article, Max Frilot provides an in-depth analysis of the groundbreaking regulations enacted by the EU, the regulatory landscape in the US, the UK, drawing insights from recent legislative developments. 👉 LINK: https://lnkd.in/eyCkTx27 . . . . #ArtificialIntelligence #AIRegulation #EULegislation #EUAIACT #USLegislation #UKLegislation #AISectorDeal #FintechIndustry #CryptoServices #LegalAssistants #FintechServices #MKFintechPartners

🇪🇺 The EU's Committee of Permanent Representatives has given the green light to the AI Act The Member States of the EU unanimously approved the Regulation laying down harmonized rules on Artificial Intelligence (AI Regulation, AI Act) in the Committee of Permanent Representatives (Coreper). With the AI Regulation, the EU is setting the framework for the use of artificial intelligence (AI) in Europe. 📌 Key Achievements: 1️⃣ Clear distinction: The AI Act focuses on product regulation, excluding research and development activities. 2️⃣ No social scoring or emotion recognition using AI in European workplaces. 3️⃣ Strict regulations on biometric remote identification to prevent widespread surveillance. 4️⃣ Risk-based approach: Stringent obligations for high-risk AI systems, with a ban on unacceptable risks like social scoring. 5️⃣ Specific regulations for generative AI models, subject to codes of practice and evolving standards. 🎯 Next Steps: The European Parliament and a formal Council formation must approve the AI Act before it comes into effect. Once published in the EU Official Journal, it becomes applicable 20 days later, with certain provisions taking effect sooner. The image was created by Copilot with the headline as the prompt. #AIAct

In what could be called as the first regulation on AI, the European Union (EU) has agreed on a provisional law to govern the technology (the 'AI Act'). The EU, European Council and European Commission have combinedly agreed to impose a total ban on cognitive behavioural manipulation, untargeted scrapping of facial images from the internet/ CCTV footage, emotion recognition in the workplace and educational institutions, social scoring, biometric categorisation to infer sensitive data (sexual orientation and religious beliefs) and some forms of predictive policing for individuals. The agreement allocates roles and responsibilities to various players in the AI supply chain based on their position and makes a distinction for the responsibilities which already exist as per the prevailing legislations. The agreement also acknowledges the difference between high-risk AI systems and general purpose AI (GPAI) systems. Within the GPAI systems, regular 'foundation models' and 'high impact foundation models' have been recognised given their advanced capabilities to process data and subsequent rules are imposed. The agreement is currently accessible only through a press release and a legal text would only be available once it is vetted by all the member states involved in the negotiation. #AI #regulation #AIAct #EU #EC

Artificial Intelligence Act: The Council and the Parliament have reached a provisional agreement on the act after months of negotiations. Let's see how it's going to hold to it's objectives and features, such as ensuring human oversight, protecting fundamental rights, and fostering innovation and competitiveness. https://lnkd.in/dUQvBgHM #AIAct #AIRegulation #EUDigital #AIInnovation #AI #AIPolicy

EU ministers unanimously adopted the #AI Act. The law will be published in the official journal of the European Union in the coming days. This new legislation, adopting a 'risk-based' approach, sets stricter rules for AI systems posing higher risks to society. It also categorizes AI systems, banning those deemed unacceptable, such as cognitive behavioral manipulation and social scoring, while high-risk systems will face stringent requirements. The AI Act establishes a new governance structure, including an AI Office within the European Commission, a scientific panel of independent experts, and an AI Board to advise and assist with the act’s enforcement. Additionally, the act introduces transparency measures and a framework for innovation, including regulatory sandboxes for developing and testing innovative AI systems in real-world conditions. The act will come into force twenty days after its publication, with full application expected two years later. This initiative underscores the EU's commitment to fostering safe and trustworthy AI, ensuring fundamental rights are protected, and promoting innovation. "The board is ultimately responsible for protecting the organization from short- and long-term ethical, reputational, and regulatory risks." That includes #AIEthics #EUAIAct