As the AI Act becomes law, concern about its impact spreads

MEPs adopted the AI Act a month ahead of schedule with a large majority.

The AI Act is the world’s first law to regulate artificial intelligence, aiming to harmonize rules across 27 EU member states.

The regulation seeks to protect fundamental rights and EU values while promoting innovation in AI.

The European Commission proposed the legislation in April 2021, and it was approved in December 2023.

The law includes initiatives to support AI start-ups and foster innovation, such as creating ‘AI factories’ with supercomputers.

There are concerns about the complexity of the AI Act, with calls to simplify compliance and provide more funding for AI research.

Digital Europe expressed concerns about the broad impact of the AI Act on various sectors and existing legislation.

Axel Voss MEP voted in favor of the legislation but expressed doubts about its capacity to regulate evolving technology.

The Commission launched an AI innovation package to support European start-ups and SMEs, including an AI Office for compliance support.

Additional funding of €4 billion is allocated for generative AI models through Horizon Europe and the Digital Europe programme.