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EU countries have until Aug. 2 to designate market surveillance authorities to enforce the AI rules. AI breaches can cost companies fines ranging from 1.5% to 7% of their total global revenue.
The Artificial Intelligence Act (AI Act) [1] is a European Union regulation concerning artificial intelligence (AI). It establishes a common regulatory and legal framework for AI within the European Union (EU). [2] It came into force on 1 August 2024, [3] with provisions that shall come into operation gradually over the following 6 to 36 months ...
In 2020, the European Union published its draft strategy paper for promoting and regulating AI. [18] Algorithmic tacit collusion is a legally dubious antitrust practise committed by means of algorithms, which the courts are not able to prosecute. [19] This danger concerns scientists and regulators in EU, US and beyond. [19]
A spokesperson for the European Commission said: "The Commission welcomes this study and AI model evaluation platform as a first step in translating the EU AI Act into technical requirements." ($1 ...
The European Commission claims that "HLEG's recommendations reflect an appreciation of both the opportunities for AI technologies to drive economic growth, prosperity and innovation, as well as the potential risks involved" and states that the EU aims to lead on the framing of policies governing AI internationally. [80]
For example, the EU AI Act outlaws social scoring systems powered by AI and any biometric-based tools used to guess a person’s race, political leanings or sexual orientation.
Depending on the violation, the EU AI Act will enable regulators to fine AI providers between $8.2 million and $38.2 million, or between 1.5% and 7% of the company’s global turnover, whichever ...
Council Regulation 1638/98 made changes to the organisation of the olive oil market in the EU. [5] See Unión de Pequeños Agricultores; Council Regulation (EC) 2679/98 of 7 December 1998, on the functioning of the internal market in relation to the free movement of goods among the Member States, was aimed at preventing obstacles to the free movement of goods attributable to "action or ...