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- 🔆 The Yeah Act: On the Implementation of the EU AI Act
🔆 The Yeah Act: On the Implementation of the EU AI Act
A closer look at the possible effects of AI regulation in the EU and the latest big tech announcements.
Lumi Era
April 18, 2024
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🗞️ Issue 14 // ⏱️ Read Time: 8 min
Hello 👋
The EU AI Act (the Act) has not even entered into effect, but there has been such high news coverage since the intense negotiations made the news in August 2023, that some of us feel it has been enforced at least 100 times. Even for those who follow these issues closely, it was difficult to keep up with the number of reactions, announcements, positions, negotiations, and news items that kept coming (and leaking!) out of the process.
In this week's newsletter
What we’re talking about: The EU AI Act: a regulatory framework proposed by the European Union to govern the development and use of artificial intelligence within its member states.
How it’s relevant: The Act will enter into effect sometime between May-July 2024 and will impact providers and developers of AI systems marketed or used within the EU.
Why it matters: This is the first comprehensive AI law to be implemented on this scale, and it has ambitious goals to protect fundamental rights and support innovation. How organisations implement this Act will set a precedent in how we collectively use and develop generative AI, within the EU and globally.
Big tech news of the week…
🤝 Microsoft announced an investment in G42, a leading AI company in the UAE, to co-innovate and deliver advanced AI solutions for various industries and markets across the Middle East, Central Asia, and Africa.
🌍 The United States and Japan announced a new $110 million joint AI partnership expected to advance AI research and development and enhance U.S.<> Japan global leadership in cutting-edge technology.
⚖️ Pokemon tampering: A man hacking Pokémon games has been caught by Japanese cyber police after modifying the game’s save data to sell his own, customised, monsters online.
🖥️ Google introduced Axion Processors, their first custom CPUs designed for the data center that promise giant leaps in performance for general-purpose workloads.
🦙 Meta confirmed that Llama 3 is coming in the next month. This is the next generation of Meta’s large language model used to power generative AI assistants.
What is the EU AI Act?
The Act is a regulatory framework proposed by the European Union to govern the development and use of artificial intelligence (AI) within its member states. Its purpose is to support trustworthy AI in the EU and ensure that AI systems respect fundamental rights, safety, and ethical principles. The AI Act applies to providers and developers of AI systems marketed or used within the EU, regardless of whether those providers or developers are established in the EU or another country.
It categorises AI systems based on the level of risk they pose to health, safety, and fundamental rights, applying stricter regulations to higher-risk applications to ensure safety and compliance with ethical standards.
Timeline: EU AI Act Approval and Implementation 2024-2027
Timeline: EU AI Act Approval and Implementation 2024-2025
Timeline: EU AI Act Approval and Implementation 2026-2027
So, where are we now?
We are a few months away from having a live AI Act in the EU. How is everybody feeling? Vibes vary. According to the Forum for the Kent A. Clark Center for Global Markets poll, opinions vary on the Act's potential impact on tech firms operating in the EU.
Worth watching is how the EU as a political entity positions itself as the Act is implemented, as well as how other regions decide to regulate. Some want to see a Brussels effect, where the Act is used as an inspiration for other regions.
64% of poll participants say the US needs similar regulation to impose testing requirements for powerful “foundational” models, prioritising safety over speed. Perhaps most importantly, any regulation on AI in other regions of the world should be locally developed and adapted to the contexts in which people and organisations operate.