Controversies surrounding artificial intelligence (AI) and its use of copyrighted material have emerged in various settings after a significant rebound in the use of this technology in content creation.
European Union lawmakers have responded to the growing use of AI in a vote on April 27, which drafted a new bill designed to keep the technology and the companies that develop it in check.
Details of the bill will be finalized in the next round of deliberations between legislatures and member states. Although, as currently written, AI tools will soon be classified according to their level of risk. Risk levels range from minimal and limited to unacceptable.
Under the bill, high-risk tools will not be banned outright, though they will be subject to stricter transparency procedures. Specifically, generative AI tools, including ChatGPT and Midjourney, will be required to disclose any use of copyrighted materials in AI training.
Svenja Hahn, Member of the European Parliament, commented in response to the current status of the bill that it is a happy medium between over-policing and over-regulation that protects citizens and “fosters innovation and boosts the economy.”
The draft, which is part of the EU’s Artificial Intelligence Law, was proposed as a draft regulation almost two years ago.
That same week, the European think tank Eurofi, made up of companies from the public and private sectors, published the latest issue of its magazine, which included a whole section on the applications of AI and machine learning in EU finance.
The section included five mini-essays on AI innovation and regulation in the EU, particularly for use in the financial sector, all related to the forthcoming Artificial Intelligence Law.
One of the authors, Georgina Bulkeley, Director of Financial Services Solutions for EMEA at Google Cloud, commented on the legislation:
“AI is too important not to regulate. And it’s too important not to regulate well.”
These events occur shortly after The EU data watchdog will express concern about potential problems for AI companies in the United States if they do not comply with its General Data Protection Regulation (GDPR).
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