EU Council approves AI act, setting benchmark for rest of the world

seekingalpha05-22

The Council of the European Union gave final approval to a tentative agreement endorsed by EU lawmakers two months ago on rules governing AI, which will begin to come into effect from next month. In ...

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In ...</p>\n\n<a href=\"https://seekingalpha.com/news/4109172-eu-council-approves-ai-act-setting-benchmark-for-rest-of-the-world\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>EU Council approves AI act, setting benchmark for rest of the world</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nEU Council approves AI act, setting benchmark for rest of the world\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-22 18:29 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4109172-eu-council-approves-ai-act-setting-benchmark-for-rest-of-the-world><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>The Council of the European Union gave final approval to a tentative agreement endorsed by EU lawmakers two months ago on rules governing AI, which will begin to come into effect from next month. In ...</p>\n\n<a href=\"https://seekingalpha.com/news/4109172-eu-council-approves-ai-act-setting-benchmark-for-rest-of-the-world\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00B1BXHZ80.USD","symbol_name":"Legg Mason ClearBridge - US Appreciation A Acc USD","start_time":0,"source_url":"https://seekingalpha.com/news/4109172-eu-council-approves-ai-act-setting-benchmark-for-rest-of-the-world","article_id":"2437268338","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1497881503/image_1497881503.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2437268338","pubTimestamp":1716373777,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"The Council of the European Union gave final approval to a tentative agreement endorsed by EU lawmakers two months ago on rules governing AI, which will begin to come into effect from next month. 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In December 2023, EU countries and lawmakers tentatively agreed on rules to govern AI tools such as ChatGPT, developed by Microsoft (MSFT)-backed OpenAI. The greenlight by the Council comes after EU lawmakers in March endorsed the tentative AI legislation drafted by the European Commission in 2021, after making several changes. The Council said that the so-called artificial intelligence act follows a 'risk-based' approach, which means the higher the risk to cause harm to society, the stricter the rules. The agency noted that the AI act applies only to areas within EU law and provides exemptions, such as for systems used exclusively for military and defense as well as for research purposes. \"This landmark law, the first of its kind in the world, addresses a global technological challenge that also creates opportunities for our societies and economies,\" said Mathieu Michel, Belgian secretary of state for digitisation, administrative simplification, privacy protection, and the building regulation. \"With the AI Act, Europe emphasizes the importance of trust, transparency and accountability when dealing with new technologies while at the same time ensuring this fast-changing technology can flourish and boost European innovation,\" Michel added. The Council noted that AI systems such as cognitive behavioral manipulation and social scoring will be banned from the EU. The law also prohibits the use of AI for predictive policing based on profiling and systems which use biometric data to categorize people on the basis of race, religion or sexual orientation. AI systems with limited risk would be subject to very light transparency obligations, while high-risk AI systems would be authorized, but subject to a set of rules and obligations to gain access to the EU market. General-purpose AI, or GPAI, models not posing systemic risks will be subject to some limited requirements. The agency said that companies violating the AI act will face fines as a percentage of its global annual turnover in the previous financial year or a predetermined amount, which ever is higher. Meanwhile, SMEs and start-ups are subject to proportional administrative fines. The requirements of the AI Act will start to apply in phases, and may take up to 2026 for all aspects to be enforceable. Previously, the EU has pushed for a tougher stance regarding governing AI, while Japan has looked at an easier approach, closer to what the U.S. has to strengthen economic growth. In October 2023, U.S. President Joe Biden had issued an executive order to manage the risks of AI, among other things. The Southeast Asian nations have also gone for a more business-friendly approach to AI. China has also launched an initiative to govern AI from multiple angles. Earlier this month, officials from the U.S. and China were scheduled to meet in Geneva to discuss mitigating risks from advanced AI. Generative AI services have become the talk of the town since the launch of ChatGPT in 2022. Globally, companies have launched their own large language models, or LLMs, which can provide services such as content, image, video and voice generation, to name a few. Meta Platforms' (META) Emu Video, Emu Edit, AudioCraft, SeamlessM4T, and Llama 2, Alibaba's (BABA) Qwen2.5, Tongyi Qianwen 2.0, and Tongyi Wanxiang, Baidu's (BIDU) Ernie Bot, OpenAI's text-to-image tool DALL·E 3, Google's Gemini, Samsung's (OTCPK:SSNLF) Gauss, and Getty Images' (GETY) model called Generative AI by Getty Images, are some of the LLMs, among the many, being developed.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.0","shortVersion":"4.24.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2437268338"}