In the news: On December 8, after two and a half years of negotiation, the Council of the EU and the EU Parliament finally reached a provisional agreement on the EU AI Act. The agreement creates legislation that introduces harmonized rules and definitions for those using AI systems and putting those systems into service and bans certain types of AI practices.
Why it matters: The AI Act is the first comprehensive law in the world that impacts general-purpose AI systems and includes safeguards and prohibitions that will reduce the risk presented by AI for government agencies, businesses and individuals.
The bottom line: The AI Act represents a game-changer for organizations operating in the EU and could have a broader impact than many realize due to its extraterritoriality implications.
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