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Proposal for a regulation of the council laying down harmonised rules on Artificial Intelligence (Artificial Intelligence Act)

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February 26, 2023

This memorandum exaplins the proposal for a Regulation outlining standardized guidelines for artificial intelligence (Artificial Intelligence Act). Artificial intelligence (AI) is a rapidly developing family of technologies that has the potential to have positive effects on a wide range of business and social endeavors. Artificial intelligence can be used to improve prediction, optimize operations and resource allocation, and personalize service delivery, which can support socially and environmentally positive results and give businesses and the European economy significant competitive advantages. The public sector, finance, mobility, home affairs, and agriculture are just a few of the high-impact industries that require such action in particular. However the same components and methods that underpin AI's socioeconomic advantages might also introduce fresh dangers or have unfavorable effects on people or society. The EU is dedicated to working toward a balanced approach in light of the speed of technological progress and potential difficulties. Maintaining the EU's technical leadership and ensuring that new technologies are created and operate in accordance with Union values, fundamental rights, and principles will benefit Europeans in the long run.

The following specific goals are included in the Commission's proposed regulatory framework for artificial intelligence:

  • ensuring that AI systems used and sold within the Union are secure and adhere to current laws governing basic rights and Union values;
  • ensuring there is legal stability to encourage AI investment and innovation;
  • improve administration and effective enforcement of current law regarding fundamental rights and safety obligations relevant to AI systems;
  • enable the growth of a single market for ethical, reliable, and safe AI applications while avoiding market fragmentation.

You can find the details of the proposal here.

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