EU proposes a new set of stringent regulations for AI

EU Commission recently proposed a new set of stringent rules for the regulation of AI. These rules are the detailed proposal on the regulation of AI whereby it differentiates activities explicitly banning some uses and considering others as "high risk".

Through this, the EU plans to regulate the use of AI which directly affects people's rights and safety. The in-depth analysis that the commission sought for aims to not overly constrain experimentation and development of AI. Nevertheless, the high-risk AI system has unalterable built-in human oversight and control mechanism.

The generation of content and interaction with people must be subject to specific transparency obligations even if it is high risk or not. Checking on the privacy issues, the authorization of AI-based remote biometric systems in publicly accessible places will be done by EU or member states. This will help to prevent, detect and investigate serious crimes.

Undoubtedly, the law and the legal framework will impact AI regulation around the world. Multiple scholars have given different thoughts on the rules. With the rules, it is expected that the development of AI will cripple the EU which might make the China and United States leap forward. With more stringent checks, the cases and innovation of AI can put the EU in an inferior position in the tech world.

With the US and China being at the superior position in the tech area, the use of AI has resulted in maximization of the corporate profitability and efficiency. Moreover, it is being used for maximizing the power of the government's grip on the population and preservation of power. Such an overly regulated EU atmosphere will have a greater impact on the maximization of AI power.

According to sources, even though the population of the EU is about 446 million and the US is 331 million, but the investment done by the EU is merely $2b as compared to US investment of $23.6b. With aggressive regulations, there are probable chances that the European Entrepreneurs launch their startups in more AI-friendly countries.

With these aggressive regulations, there are probable chances that other nations will foster more innovation and creating a stronghold in global technology. As per the report from the World Bank, the EU launched 38% investigation into data compliance but North America only launched 12%. Such stricter measures have a greater impact on the innovators where they will begin to move towards more business-friendly countries.