As the contours of digital law continue to take shape worldwide, the European Union is gearing up to finalize what could potentially be the world’s first comprehensive legislation specifically on Artificial Intelligence (AI), known as the AI Act. According to a draft regulation provided by the European Commission in April 2021, the aim of the AI Act is to establish harmonized rules on AI that safeguard fundamental EU rights and user safety.
The EU’s steps to regulate AI mark a significant global development and signal the continent’s desire to lead in the digital economy’s legal framework. Corporations and law firms alike would be well-advised to familiarize themselves with the Act’s potential implications, particularly how the Act intersects with copyright law.
Since its introduction, the draft legislation has been under review and is presently gearing up for finalization. The Act, upon its final iteration, is anticipated to have practical consequences for how corporations manage AI in their daily operations.
Further details of the legislation can be found here. Morrison & Foerster LLP provides an in-depth analysis of the draft AI Act, including its potential implication on copyright law and how it might affect businesses operating within the EU.
As the AI Act approaches its final form, corporations and legal professionals worldwide will find it increasingly critical to understand how it could shape their AI strategies and operations. This legislation, unique in its focus on AI, might well set a precedent for other jurisdictions considering AI-related legal frameworks. As with all new legislation, awareness and effective navigation of the changing legal landscape will be paramount for corporates and legal practitioners alike.