On April 21, 2021 the European Commission (EC) published its proposal for a Regulation laying down harmonized rules on artificial intelligence, the Artificial Intelligence Act (the Proposal). The EC sets ambitions to play a key role in the regulation of artificial intelligence (AI), not only by coming out the first in the area but also as its Proposal has elements of extraterritorial reach. The EC is proposing a legal framework consisting of rules developed on a risk-based approach that aim to ensure that AI systems are safe, ethical, transparent and human-centered. The overarching goal is to increase trust AI systems to ensure their uptake, which the 2021 Coordinated Plan outlines.
You can find an outline of the Proposal in our infographics available here. The key components are below.