EU - World’s First AI Law Takes Effect
The AI Act, a landmark rule that aims to govern the way companies develop, use and apply AI, was given final approval by EU member states, lawmakers, and the European Commission—the executive body of the EU—in May.
It will primarily target large U.S. technology companies, which are currently the primary builders and developers of the most advanced AI systems.
Tanguy Van Overstraeten, head of law firm Linklaters’ technology, media and technology practice in Brussels, said the EU AI Act is “the first of its kind in the world.”
U.S. giants like Microsoft, Google, Amazon, Apple, and Meta have been aggressively partnering with and investing billions of dollars into companies they think can lead in artificial intelligence amid a global frenzy around the technology.
“The AI Act has implications that go far beyond the EU. It applies to any organization with any operation or impact in the EU, which means the AI Act will likely apply to you no matter where you’re located,” Charlie Thompson, senior vice president of EMEA and LATAM for enterprise software firm Appian, told CNBC via email.
Companies that breach the EU AI Act could be fined between 35 million euros ($41 million) or 7% of their global annual revenues—whichever amount is higher—to 7.5 million or 1.5% of global annual revenues.
-www.cnbc.com, 1 August 2024
Arno's Commentary
Years in the works, the final wording of the law has now been implemented. To what extent it will be able to prosecute high-tech companies and enforce fines, remains to be seen. But it was inevitable, as in the past few years, many alarm bells have sounded regarding the dangers of artificial intelligence.
One thing becomes clearer almost on a daily basis; namely, the reality that planet earth—when it comes to manufacturing merchandise and technology—already is one world. An industrial expert called it the global assembly line. Each part is dependent on the next part, and we all know what happens when an assembly line breaks down. In modern times, it will bring catastrophe to planet earth.
But when it comes to international law, we read in Micah 4:2: “And many nations shall come, and say, Come, and let us go up to the mountain of the LORD, and to the house of the God of Jacob; and he will teach us of his ways, and we will walk in his paths: for the law shall go forth of Zion, and the word of the LORD from Jerusalem.”
Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.
