The EU Just Passed Sweeping New Rules to Regulate AI

The EU has reached a deal on the AI Act, a far-reaching law regulating the people building and using artificial intelligence that lawmakers hope will serve as a blueprint for the rest of the world. Negotiators from the Parliament, Council and Commission spent more than 36 hours on the legislation, which includes bans on certain biometric systems and the indiscriminate scraping of faces from the internet. Companies that do not comply can be fined up to 7 percent of global turnover, with bans taking effect in six months, transparency requirements in 12 months, and the full rules in around two years.