The European AI community has criticised an EU bill to regulate the technology

The full text of the European Commission's proposed law on the regulation of artificial intelligence technologies has appeared online. The document was criticised by representatives of the AI community.

Here's What We Know

EU ambassadors plan to approve the final version of the bill as early as 2 February by the EU ambassadors. It is assumed that the regulation will come into force before the elections to the European Parliament in the summer of 2024.

Experts note that companies have very little time to prepare for the new rules. The leak of the draft law is an "alarming signal" for businesses, which should already start working on compliance.

At the same time, individual regulations will start to take effect at different times. Companies are advised to carefully monitor the timetable for their introduction. Resources and staff will also need to be allocated to implement the new requirements.

The EU AI law will be extraterritorial and will affect not only European but also foreign companies. This will cause an increased demand for AI data management and privacy specialists.

At the same time, experts fear that excessive regulation will have a negative impact on the development of AI technologies in Europe. A number of politicians, including French President Emmanuel Macron, have previously warned of this risk.

Source: The Next Web