EconomyLens.com
No Result
View All Result
Tuesday, July 14, 2026
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Other

In world first, EU’s sweeping AI law enters into force

Natalie Fisher by Natalie Fisher
August 1, 2024
in Other
Reading Time: 4 mins read
A A
1
26
SHARES
331
VIEWS
Share on FacebookShare on Twitter

The EU's sweeping risk-based rules will cover all types of artificial intelligence. ©AFP

Brussels (Belgium) (AFP) – The European Union’s landmark law on artificial intelligence came into force on Thursday, which Brussels vows will drive innovation while protecting citizens’ rights. The EU earlier this year adopted the world’s first sweeping rules to govern AI, especially powerful systems like OpenAI’s ChatGPT after difficult and tense negotiations. Although the rules were first proposed in 2021, they took on greater urgency when ChatGPT burst onto the scene in 2022, showing generative AI’s human-like ability to churn out eloquent text within seconds. Other examples of generative AI include Dall-E and Midjourney, which can generate images in nearly any style with a simple input in everyday language.

Related

IBM shares plunge 25% as AI spending boom disrupts business

Trump backtracks on plan to toll Hormuz ships

Why does Brazil’s PIX payment system bother Donald Trump?

US inflation cools in June before renewed Mideast fighting

Oil gains on fresh attacks, dollar slides as inflation slows

“With our artificial intelligence act, we create new guardrails not only to protect people and their interests, but also to give business and innovators clear rules and certainty,” European Commission President Ursula von der Leyen said. Companies will have to comply by 2026, but rules covering AI models like ChatGPT will apply 12 months after the law enters into force. Strict bans on using AI for predictive policing based on profiling and systems that use biometric information to infer an individual’s race, religion, or sexual orientation will apply six months after the law enters into force.

The law known as the “AI Act” takes a risk-based approach: if a system is high-risk, a company has a stricter set of obligations to fulfil to protect citizens’ rights. The higher the risk to Europeans’ health or rights, for example, the greater the companies’ requirements to protect individuals from harms.

“The geographic scope of the AI Act is very broad, so organisations with any connections to the EU in their business or customer base will need an AI governance programme in place to identify and comply with their obligations,” said Marcus Evans, partner at law firm Norton Rose Fulbright. Companies in violation of the rules on banned practices or data obligations face fines of up to seven percent of worldwide annual revenue. The EU in May established an “AI Office” of tech experts, lawyers, and economists under the new law to ensure compliance.

© 2024 AFP

Tags: artificial intelligenceEUgenerative AI
Share10Tweet7Share2Pin2Send
Previous Post

Olympics tech partner Atos posts huge loss

Next Post

BP to develop new oil and gas fields in Iraq

Natalie Fisher

Natalie Fisher

Related Posts

Other

Dangote’s mega oil project threatens fragile Kenyan ecosystem: Greenpeace

July 14, 2026
Other

US consumer inflation cools in June on lower energy costs

July 14, 2026
Other

Oil extends gains after latest US strikes, tech suffers more losses

July 14, 2026
Other

Twelve US states sue to block Paramount’s Warner Bros. takeover

July 14, 2026
Other

EU sanctions target Russian state-backed messaging app

July 13, 2026
Other

‘Indispensable’ Xiaohongshu app fuels Chinese tourism

July 14, 2026
Next Post

BP to develop new oil and gas fields in Iraq

Stocks dip before UK interest rate call, amid earnings barrage

Bank of England cuts rate for first time since pandemic

Olympics tech partner Atos posts huge loss

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
1 Comment
Oldest
Newest Most Voted
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

New York ruling deals Trump business a major blow

103

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Nasdaq rebounds as cooling US inflation weighs on dollar

July 14, 2026

IBM shares plunge 25% as AI spending boom disrupts business

July 14, 2026

Trump backtracks on plan to toll Hormuz ships

July 14, 2026

Dollar slides as rate hike prospects ease, oil gains moderate

July 14, 2026
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.