Governments worldwide are facing rapid AI expansion. They are grappling with how best to balance safeguarding and regulation with the need to foster development and innovation that will benefit their economies.

In Europe, this is governed by the European Union’s AI Act. Introduced in April 2021. The Act aims to establish a unified legal framework for AI across the EU. It categorises AI systems into different risk levels with the emphasis on public safety, ethical considerations, and data privacy. It aims to ensure ideas behind AI systems align with the EU’s values of dignity, freedom, and non-discrimination.

The fundamental problem with the EU AI Act, however, is that it actually looks like it’s been written by AI to govern the use of AI. So many of the elements are vague and open to interpretation. In particular the use of ‘unacceptable risks’, especially considering that most legal systems follow the doctrine of precedent, of which there currently are none. As such, it becomes little more than a golden opportunity for corporate lawyers.

Read more of Derren Nisbet's article on AI regulations in the US, UK, and the AI fear factor on Enterprise Times.