News

Germany to Back EU AI Act

Germany intends to support the proposals of the European Union on the regulation of artificial intelligence after the Ministry of Transport and Digital Affairs abandoned its position of disagreement with the Law of this bloc of countries on AI.

Germany to Back EU AI Act

Volker Wissing, Minister of Transport and Digital Affairs, in an emailed statement, noted that the ruling alliance in Berlin has reached an acceptable compromise that creates a platform for the development of trustworthy machine intelligence. Separately, the minister noted that he insisted on more favorable rules for the introduction of innovations.

Volker Wissing announced his intention to use maximum opportunities when implementing the AI Act to avoid double regulation and turn Europe into a major center of artificial intelligence that can hold its own in global competition.

The EU reached a preliminary agreement on the supervision of machine intelligence in December. Currently, this association of countries is striving to set the tone for the regulation of advanced technology. In the context of international positioning, such aspirations matter. The country or group of states that is the first to propose an adequate concept for regulating the artificial intelligence industry will provide itself with something like the status of an innovation space. But this positioning will be formal to a certain extent. In the context of the development of artificial intelligence, which is an advanced technology that attracts the attention of the whole world, the presence of companies developing advanced AI-based products is a priority. A good regulatory framework can theoretically be an incentive for certain developers to relocate to the area of the relevant jurisdiction. However, without sufficient investment volumes and technical conditions, the motivational impulse will weaken significantly.

The AI Act has not yet been approved by all EU countries. The draft law provides for transparency for general-purpose artificial intelligence and additional rules for technologies that contain systemic risk.

Volker Wissing, a member of the Free Democrats party, stated that the regulation of machine intelligence would hurt innovation.

The United Kingdom is also currently striving to create a concept for regulating artificial intelligence. In September last year, the Competition and Markets Authority (CMA) published the principles of relevant activities. The regulator said that machine intelligence could have a rapid impact on markets and consumers. One of the principles of the CMA is full accountability on the part of those who create and implement artificial intelligence systems. It also provides constant access to key input data and the absence of any restrictions related to obtaining relevant information. Another principle is the diversity of business models. In this case, it means that there must be a choice of artificial intelligence configurations for commercial use.

The British regulator has also provided for the principle of flexibility between AI foundation models. Another norm stipulated by the CMA is transparency regarding risks and limitations. The regulator has also introduced a requirement not to use bundling for anti-competitive purposes.

Serhii Mikhailov

2376 Posts 0 Comments

Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.