World’s first major act to regulate AI passed by European lawmakers

On Wednesday, the European Union’s parliament granted approval for the world’s inaugural comprehensive set of regulatory guidelines aimed at overseeing the burgeoning field of artificial intelligence, which stands at the forefront of technological investments.

Having brokered a provisional political consensus in early December, the agreement received formal endorsement during the parliament’s Wednesday session, garnering 523 votes in favor, 46 against, and 49 abstentions.

Thierry Breton, the European commissioner for the internal market, asserted, “Europe has now established itself as a global standard-setter in AI,” in a statement on X.

Roberta Metsola, the president of the European Parliament, lauded the legislation as groundbreaking, emphasizing its role in fostering innovation while upholding fundamental rights, CNBC reported.

READ MORE: https://www.cnbc.com/2024/03/13/european-lawmakers-endorse-worlds-first-major-act-to-regulate-ai.html

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