EU’s AI Act challenge: balance innovation and consumer protection

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Members of the EU Parliament have agreed on a first draft for regulating the use of AI. The AI Act is now taking the next procedural step to be negotiated and worked out with individual member states. In the end, there should be an EU-wide body of law to regulate the use of AI technologies, such as ChatGPT. Essentially, the AI Act is about categorizing AI systems into specific risk classes ranging from minimal, to systems with high risks, and those that should be banned altogether. And when it comes to AI systems making consequential decisions for people, especially high standards should be ap…

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