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European Council Officially Approves First-Ever Global AI Regulations

The European Council has officially approved the AI Act, the first global regulation on artificial intelligence. This legislation adopts a risk-based approach to maintain the AI systems safe, trustworthy, and aligned with EU values.

The AI Act includes:

Risk-Based Categorization: AI systems are categorized by risk levels, with stricter rules applied to high-risk applications. This ensures that the most potentially impactful AI technologies are subject to standards.

Banned Practices: Certain AI practices, such as social scoring and predictive policing, are outright banned under this legislation, reflecting a commitment to ethical AI usage.

Governance and Enforcement: The Act establishes new governance bodies responsible for enforcing compliance, ensuring that AI systems adhere to these new regulations.

Transparency and Accountability: Companies must meet stringent transparency and accountability requirements, securing trust in AI technologies.

The AI Act will be officially published soon and will take effect two years after its publication. This timeframe is important for businesses to build full compliance with the new regulations. Companies are urged to stay informed and prepare for potential future regulatory updates that may impose even stricter requirements.