The European Commission (Commission) published its draft Regulation on Artificial Intelligence (AI) on April 21, 2021. The draft Regulation is of key importance to users and providers of AI, not only because it is the first attempt at comprehensive regulation of AI, but also because it may well become the global standard. It follows the strategies outlined in the February 2020 Commission’s White Paper on AI. The impact on business will take time to be felt, but there is already concern as to the regulatory burden. It is also sector-agnostic, has an extraterritorial reach, carries steep non-compliance penalties and applies to multiple stakeholders across the AI value chain. Below we outline key points that businesses should be aware of, which we will be discussing further during an upcoming webinar.
European Union Publishes Historic AI Regulation
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