The new EU’s proposed regulations on AI and what they mean for companies

On 21 April 2021, the EU Commission proposed new rules and actions aiming to turn Europe into the global hub for trustworthy Artificial Intelligence (AI). The combination of the first-ever legal framework on AI and a new Coordinated Plan with EU Member States shall guarantee the safety and fundamental rights of people and businesses, while strengthening AI uptake, investment and innovation across the EU. While these rules still need to be ratified, they might have the potential to affect any business leveraging or developing AI in the EU.

As the growth of artificial intelligence continues to accelerate, there’s no stopping the issue of AI ethics and compliance from knocking on the doors. Trustworthy AI is becoming a business imperative, as it fosters consumer confidence and engenders brand equity. The proposed regulations would apply to all developers that market or provide AI systems in the EU (regardless of whether such providers are established in the EU or not) and to those who have member-state-based users. In a newly published article, Andrew Pery explores the question what AI developers with users in EU Member States should be aware of and what the regulations would mean for international businesses.

 

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