EU policymakers recently proposed a sweeping set of regulations called the Artificial Intelligence Act (AIA). If made law, the AIA would offer European citizens the strictest, most comprehensive protections against predatory AI systems on the planet. And big tech is terrified. Up front: The Center for Data Innovation published a report on Sunday titled “How Much Will the AIA Cost Europe?” According to the organization’s research: The AIA will cost the European economy €31 billion over the next five years and reduce AI investments by almost 20 percent. A European SME that deploys a high-risk AI system will incur compliance…
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