Artificial intelligence (AI) is expected to play a major role in the digital transformation of modern economies. In this context, the European Parliament has announced that it will vote on new rules this Autumn, intended to further regulate the use of AI.
The Artificial Intelligence Act, as this piece of legislation would be known, should unlock AI’s potential in fields such as health, environment and climate change. The European Commission wants to boost private and public investment in AI technologies to €20 billion per year. An estimate published by the Parliament says that AI and robotics can create 60 million new jobs worldwide by 2025.
The EU Parliament said in a statement that “the EU has fallen behind in the global race for tech leadership. “There is a risk that standards will be developed elsewhere, often by non-democratic actors, while MEPs believe the EU needs to act as a global standard-setter in AI”, the Parliament said.
The MEPs identified policy options that could unlock AI’s potential in health, the environment and climate change, to help combat pandemics and global hunger, and enhance people’s quality of life through personalized medicine. Lawmakers have also agreed on addressing high-risk AI systems, which are subject to more oversight and prohibitions. For instance, AI systems used to influence or shape the development of children should be considered high risk.
MEPs say that, combined with the necessary support infrastructure, education and training, AI can increase capital and labour productivity, innovation, sustainable growth and job creation.
More On The Issue: TechREG™ Chronicle – Artificial Intelligence
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