A PYMNTS Company

Meta Holds Off on EU AI Pact, Focuses on Meeting AI Act Rules

By  |  September 25, 2024

Meta Platforms, the parent company of Facebook, has announced that it will not immediately join the European Union’s voluntary AI Pact, which aims to guide companies in preparing for the upcoming AI regulations. According to a Meta spokesperson, the company is currently focused on ensuring compliance with the European Union’s forthcoming AI Act, which will impose new regulations on the development and use of artificial intelligence.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Per Reuters, the AI Pact serves as an interim measure for businesses until the full implementation of the AI Act, which is set to take effect in August 2026. The legislation, agreed upon by EU lawmakers in May, is the first comprehensive set of rules worldwide aimed at overseeing AI technologies. Among other things, it will require companies to provide detailed reports on the datasets used to train their AI models.

    The European Commission has encouraged companies to voluntarily adopt key aspects of the AI Act through the AI Pact before the official regulations come into force. This pact is intended to help businesses align with the forthcoming obligations, ensuring a smoother transition once the AI Act is fully implemented.

    Related: Meta, Ericsson Lead Industry Push for Cohesive AI Rules in Europe

    In a statement, Meta expressed support for the EU’s coordinated approach to regulating artificial intelligence, saying, “We welcome harmonized EU rules and are focusing on our compliance work under the AI Act at this time.” The spokesperson also hinted that Meta might join the AI Pact in the future, but did not provide a specific timeline.

    The AI Act is poised to become a critical part of EU law, working alongside other major pieces of legislation, including the Digital Markets Act, the Digital Services Act, the Data Governance Act, and the Data Act. Together, these laws aim to regulate digital services, data management, and artificial intelligence in a rapidly evolving tech landscape.

    Source: Reuters