European Regulation on Artificial Intelligence
On 13 March 2024, the European Parliament has adopted the Regulation on Artificial Intelligence ("Regulation" or "RIA") laying down harmonising rules on Artificial Intelligence ("AI") and obligations on operators of AI systems through a risk-based approach to the fundamental rights of data subjects and the values of the European Union.
The scope of the Regulation extends beyond organisations established in the European Union ("EU") to those using Artificial Intelligence in the European market. This means that many multinationals, with a presence or commercial interactions in the EU, will also have to apply it.
The Regulation will be published in the Official Journal of the European Union and will enter into force 20 days later, being fully applicable after two years. This deadline is subject to certain exceptions determined by the categorisation of the risk associated with AI systems, as detailed in the attached information note.
What is IA?
According to the Regulation, an AI system is considered to be an AI system when it is machine-based, designed to operate with different levels of autonomy, demonstrates adaptive capabilities and can infer from the input it receives, for explicit or implicit purposes, how to generate outputs such as content, predictions, recommendations or decisions that can be inferred in physical or virtual environments.
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