Europe’s AI laws will cost companies a small fortune – but the payoff is trust | Venture Beat

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The European Union announced its planned artificial intelligence regulations earlier this year and solicited input from dozens of businesses and individuals. The European Commission’s consultation period ended in August, and the European Parliament will now examine the issue further. Its emphasis is on control and monitoring, especially for AI systems deemed “high risk,” such as those used in education or employment choices, rather than simply prohibiting some usage (for example, face detection for authentication in public settings and social “scoring”). To join the market, every company with a high-risk software product will need a Conformité Européenne (CE) badge. The product must be designed to be monitored by people, to minimize automation bias, and to be accurate to a level commensurate with its intended usage. 

Source: https://venturebeat.com/2021/11/21/europes-ai-laws-will-cost-companies-a-small-fortune-but-the-payoff-is-trust/ 

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