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ARTICLE · 26 DECEMBER 2024

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HAI-Risk, What Reward?

GVZH Advocates
GVZH Advocates
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GVZH Advocates

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Artificial Intelligence's development is shaping the present and future of the world, moulding industries and transforming lives.

MaltaTechnology

Artificial Intelligence's development is shaping the present and future of the world, moulding industries and transforming lives. However, not all AI systems are created equally, creating the need to distinguish, regulate and potentially stifle certain developments and innovations. Whilst the development of AI creates boundless opportunities, it also creates a unique set of challenges that, if handled inadequately, could have serious negative consequences, as we shall consider below.

The European Union has taken a lead in aiming to “tame the beast” that is AI through the introduction of the EU AI Act (“AI Act”), which gained the force of law on the 1st August 2024 and will begin its rolling out on the 2nd February 2025. One such implemented measure is the hierarchy introduced by the AI Act intended to split and govern AI differently depending on the nature and application of the artificial intelligence. The AI Act differentiates between four types of AI:

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