by Helmut Liebel und Lukas Weber
In the latest development in the field of artificial intelligence (AI), the European Union has today, 12 July 2024, published a regulation that represents a milestone for this technology. The Artificial Intelligence Act (Regulation 2024/1689) (AI Act) will apply from 2 August 2024. The AI Act aims to standardize and secure the use of AI systems in the European Union. The focus is particularly on protecting consumers and promoting innovation in line with European values.
The four risk classes for AI systems are a central component of the AI Act. These range from high-risk systems to systems with minimal risk. The specific classification depends on several factors, including the intended use of the AI system, its technical characteristics and the potential impact on society. Examples of high-risk applications are systems for biometric identification or for managing essential infrastructure. Different requirements must be met depending on the classification.
Of particular note is the introduction of draconian fines for violations of the AI Act. Companies that violate the provisions can be fined up to EUR 35 million or 7% of their global annual turnover, whichever is higher. This measure underscores the European Union’s commitment to ensuring compliance with the AI Act and minimizing potential risks to society.
Overall, the publication of the AI Act marks a significant step towards the regulated and responsible use of AI in Europe. It remains to be seen how this regulation will be implemented in practice and what impact it will have on the global AI landscape.
