EU AI Act: Vance Warns on Regulation
The EU AI Act, implemented in phases starting from August 1, 2024, aims to regulate AI use for safety and transparency. It categorizes AI systems based on risk and requires compliance from businesses operating in the EU. Non-compliance could result in significant fines. The U.S. Vice President warns against excessive regulation in the AI industry, opposing the EU's strict approach, while European leaders emphasize the importance of regulations to build trust and prevent public rejection of AI.
https://www.nbnw.org/news/eu-ai-act-vance-warns-on-regulation
