As the pace of artificial intelligence (AI) innovation progresses at a breakneck pace, the European Union has become the first region to enact regulations providing regulatory clarity for developers and companies seeking to use AI technologies.
The AI Act received provisional approval on Tuesday from two key groups: the Civil Liberties, Justice and Home Affairs Committee (LIBE) and the Internal Market and Consumer Protection Committee (IMCO).
An official vote will not take place in the EU Parliament until spring, but it is expected to pass safely with a favorable vote in the interim stage.
What does EU AI law say?
The AI Act requires developers to conduct risk assessments and classifies AI features into four risk categories: minimal, limited, high, and unacceptable. It also prohibits predictive policing, while generative apps like ChatGPT will receive minimal oversight.
It also includes biometric classification systems using sensitive traits, non-targeted scraping to create facial recognition databases, emotional recognition at work or school, social scoring based on behavior or personal characteristics, and manipulating and evading human behavior. There are also several banned AI applications such as systems. AI systems used to exploit free will, vulnerabilities.
There are some exceptions for law enforcement, such as the ability to use biometric systems to conduct targeted searches of people suspected or convicted of a crime. It requires prior judicial approval and can only be used for a strictly defined list of crimes.
Is the EU over-regulating again?
It’s no secret that the EU’s economy has been lagging behind the United States for decades. Some critics argue that excessive regulation is driving startups away from the continent and placing undue burden on would-be entrepreneurs. In fact, the advocacy group Digital Europe has precisely criticized the AI law.
But such rules “in no way stifle innovation,” said Nader Henein, an information privacy advocate and researcher at Gartner. He emphasized that innovation works within regulatory boundaries and finds ways to turn this into an advantage. He said adoption of the rules should be “simple.”
There will no doubt be updates to the rules in the future as AI development progresses faster than anyone can understand, but the AI Act is a start. Together with the EU’s Markets for Cryptoassets (MiCA) regulation and other regulations related to blockchain and digital currencies, we are making progress towards our Digital Decade goal.
Speaking of blockchain…
Explaining its AI law online, the EU said its priority is to ensure that AI systems used within its borders are safe, transparent, traceable, non-discriminatory and environmentally friendly. “AI systems must be supervised by humans, not automated, to prevent harmful outcomes,” he emphasizes.
With an in-depth analysis of blockchain technology and digital currencies, the EU may already know how these technologies are tailored to ensure secure and transparent AI development. Decentralized digital ledgers can create tamper-resistant, timestamped evidence trails to ensure the integrity of data used by AI models and create accountability for developers.
Mitigating AI Risk through Transparency
People who dislike government regulation of any kind will have problems with any regulation the government proposes, but there is no denying that some level of responsibility and risk management is needed when it comes to AI.
The potential benefits of AI, including scientific breakthroughs and new inventions, are well known and widely promoted. But like the Internet, every tool has the potential to be exploited. Predictive policing, AI-generated deepfakes, and systemic risks to financial markets are just some of the ways that AI can go wrong if it gets into the wrong hands or if we lose control of it.
If safety, transparency, and traceability are and should be your goals, a scalable public blockchain like BSV is the best tool for the job. For the regulations governing AI to be in place, it is essential to know what happens, when and who is responsible.
For artificial intelligence (AI) to function properly within the law and succeed in the face of growing challenges, it must integrate enterprise blockchain systems that ensure data input quality and ownership. This helps keep your data safe while ensuring immutability. data. Check out CoinGeek’s coverage of this emerging technology to learn more about why enterprise blockchain will become the backbone of AI.
See: Microtransactions allow people to trust AI
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