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EU To Move Faster On Artificial Intelligence Regulation

 |  May 9, 2022

The European Parliament last week, adopted a report on artificial intelligence, which sets out a list of demands to secure the EU’s position in AI, and points to research as one of the key means to achieving that goal.

MEPs warn the EU must move quickly to set clear rules for AI if it wants to have a say in the future of the technology. 

“We have the opportunity to set global standards,” said Parliament’s rapporteur for the file, Axel Voss, speaking in the final plenary debate. “If we allow ourselves to lose leadership position, we will resign ourselves to the status of digital colonies subjugated to other regions that don’t share our values.”

Related: Regulation of Artificial Intelligence – Global Trends, Implications, and the Road Ahead

The report is the culmination of a year and a half of work by the Parliament’s special committee on AI. It will feed into work on the upcoming AI Act, the first major AI regulation globally, which will set rules for AI uses according to their level of risk.

As things stand, the US is leading the AI race in terms of investment, research and attracting talent while its companies spearhead technology development. China is behind the US, but catching up.

The EU has a long way to go to, but policymakers believe with clear regulations and an investment push it can catch up with competitors. 

The aim is to increase public and private investment to €20 billion by the end of the decade. Today, it stands at €14 billion.