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Why the EU Must Consider AI Regulations?
Speculations are rife that the EU might soon be bringing in a new set of rules and regulations aimed at artificial intelligence developers.
FREMONT, CA: After rolling out comprehensive data privacy regulations, the EU is now considering norms to regulate the development of Artificial Intelligence (AI) solutions. The technology of artificial intelligence has been a revelation and is one of the most-used among all the advanced technologies. Although beneficial, there have been apprehensions regarding the potential misuse of the technology, owing to its over-reaching capabilities. These apprehensions might have been the factors driving the EU towards getting a new AI policy on the cards.
In Europe, several of the high-risk sectors are developing AI applications. From transport to healthcare, every sector is trying to get an efficient and intelligent edge with the help of AI. While many companies might opine that stringent regulation would hinder innovation and growth, the EU has always promoted regulated development. On many instances, the EU has made it clear that in competing with global counterparts like China and the US, it will not replicate their unregulated approach. Besides, regulatory authorities believe that commitment to regulations entitles responsible development of technology, which in turn maximises benefits and minimises risks.
According to reports, the EU also has plans to limit or pause the use of facial recognition technologies across the public, as well as the private spectrums. In doing so, the commission believes that it will buy enough time to determine the risks of facial recognition and its repercussions on privacy and security in general. Both AI and facial recognition have the potential to raise ethical issues and fan discriminations. Besides, there are chances of risky applications resulting in injuries, deaths, and damage to property. In the face of such possibilities, regulatory measures might actually bring in a sense of safety and security.
If the EU does release the regulatory norms as is expected, one can anticipate the technology ecosystem in Europe to experience new trends that will entail responsible and balanced prospects for its economy and society at large.
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