The Inner Circle

  • 1.  EU AI Proposed Regulation

    Posted 5 days ago
    Hi All,

    Attached is the proposed EU AI Regulation published 20210421.

    The Commission puts forward the proposed regulatory framework on Artificial Intelligence with the following specific objectives:
    • ensure that AI systems placed on the Union market and used are safe and respect existing law on fundamental rights and Union values;
    • ensure legal certainty to facilitate investment and innovation in AI;
    • enhance governance and effective enforcement of existing law on fundamental rights and safety requirements applicable to AI systems;
    • facilitate the development of a single market for lawful, safe and trustworthy AI applications and prevent market fragmentation.

    To achieve those objectives, this proposal presents a balanced and proportionate horizontal regulatory approach to AI that is limited to the minimum necessary requirements to address the risks and problems linked to AI, without unduly constraining or hindering technological development or otherwise disproportionately increasing the cost of placing AI solutions on the market. The proposal sets a robust and flexible legal framework. On the one hand, it is comprehensive and future-proof in its fundamental regulatory choices, including the principle-based requirements that AI systems should comply with. On the other hand, it puts in place a proportionate regulatory system centered on a well-defined risk-based regulatory approach that does not create unnecessary restrictions to trade, whereby legal intervention is tailored to those concrete situations where there is a justified cause for concern or where such concern can reasonably be anticipated in the near future. At the same time, the legal framework includes flexible mechanisms that enable it to be dynamically adapted as the technology evolves and new concerning situations emerge.

    Michael Roza CPA, CISA, CIA, MBA, Exec MBA