The European Union’s Artificial Intelligence Act, often referred to as the ‘new GDPR’, has come into effect, marking a significant shift towards the regulation of AI technologies. This comprehensive legislation aims to ensure that AI systems are safe, respect fundamental rights, and promote trustworthy innovation within the EU market.
European and American companies have urged the EU to delay the implementation of the AI Act for at least two years, citing concerns that the legislation could stifle AI development. A letter signed by 45 organizations, including major firms like ASML and Airbus, requests a more innovation-friendly approach to regulation.
Top CEOs from Europe are urging the European Commission to reconsider the pace of the AI Act, expressing concerns about its implications for innovation and competitiveness. They advocate for a more measured approach to ensure that regulatory frameworks do not stifle advancements in artificial intelligence.
The European Commission announced that guidance for companies to comply with the EU’s artificial intelligence rules may be delayed until the end of 2025, a six-month postponement from the original timeline. This delay could impact many companies that need to align their AI systems with the new regulations.