The EU's New Law On Artificial Intelligence: Global Implications

The goal to create a responsible regulatory framework for artificial intelligence ("AI") remains an important pillar of Europe's strategy in terms of shaping its digital future. A significant milestone in this regard was recently achieved by way of a high-level political, albeit provisional, agreement ("Provisional Agreement") on a proposed law with respect to regulating AI (such law, the "AI Act").

The Provisional Agreement, arrived at in Brussels a couple of months ago, relates to a final legislative text for the AI Act. The agreement was reached pursuant to 'trilogue' negotiations among three decision-making institutions of the European Union ("EU") – its Parliament ("Parliament"), the Council of the EU ("Council") and the European Commission ("Commission"), respectively.