The Artificial Intelligence Act (“AI Act”) — referred to by some as the “mother of all AI laws” — is the first major attempt to regulate the use of AI by businesses.4 The goal of the AI Act is to provide a regulatory framework around the development, commodification and use of AI-driven products. A Risk-Based ApproachThe first question on the minds of many business leaders is how the AI Act will differ from existing regulations like those in the General Data Protection Regulation (“GDPR”). Authorities Take ActionThe impact of the AI Act will be far reaching, and regulatory authorities around the globe are already following its lead. Companies may now also run the risk of additional scrutiny if pricing and other practices are considered discriminatory by the AI Act. There is still time to take action before the AI Act comes into full effect.

Source: New York Times March 17, 2023 15:03 UTC