Europe to vote on AI laws with potential 7% revenue fines

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Europe to vote on AI laws with potential 7% revenue fines
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Risk-based approach puts onus on developers and sees bloc diverge from US, UK plans

The European Parliament is to debate legislation that could cement a divergent approach to regulating AI between the US, the UK and the EU.

Proposals set to go before the legislative chamber in the world's richest economic trading bloc this week include a ban on real-time remote biometric identification systems in public spaces, and biometric categorisation systems that place people in groups by gender, race, and ethnicity, for example, predictive policing and emotional recognition systems.understands the focus on generative AI, such as OpenAI's ChatGPT, has climbed the agenda since the laws were first proposed.

After it comes into force, the Act could see fines of €40 million or 7 percent of the total worldwide turnover imposed on organizations failing to comply. But as well as prohibited applications, the legislation looks to put an onus on AI developers and users to ensure they meet the requirements of a risk-based approach markedly different from the UK's proposed outcome-based approach.

The Commission is set to establish a system for registering standalone high-risk AI applications in a public EU-wide database. Meanwhile, for all AI, the Act sets out an onus on developers to assess of the quantity and suitability of training data sets, as well as examine them for possible biases.that publicly available training datasets contain biases at the very least, and in some cases, quite horrific content.

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