Hello, and welcome to another special edition of MLEX's podcast.

My name is Matthew Newman, MLEX's global chief correspondent.

Today we're talking about the EU's Artificial Intelligence

Act. proposed by the European Commission in 2021, the AI Act is a landmark in the global

regulation of artificial intelligence. It's designed to set the standards for AI development

and use within the EU. At its heart, it seeks to navigate the relationships between technology, ethics, and governance.

With the AI Act, EU lawmakers aim to achieve three primary goals.

First, it seeks to ensure the responsible and ethical use of AI,

safeguarding fundamental rights, such as privacy and non-discrimination.

Second, it aims to promote innovation and competitiveness by establishing clear rules for AI developers and users.

Lastly, it seeks to build public trust in AI technologies by defining transparent framework for AI development.

When approved, the AI Act would require companies to get AI systems certified by national authorities before putting them on the market for use in high-risk scenarios.

These include insurance assessments, school admissions,

hiring, and firing, or systems capable of influencing voters in elections. However, like any

pioneering legislation, the AI Act is not without its controversies. Critics argue that the law

may stifle innovation and place undue

burdens on businesses. Balancing the need for regulation and the desire to foster AI-driven

growth is a delicate task, and the EU's approach has sparked intense debates among experts,

policymakers, and industry leaders. My colleague, Nicholas Wallace,

and I recently discussed the legislation with Eva Maydell, a leading European Parliament member

on the AI Act. And we began our conversation by asking about the balance between upholding

EU values and promoting innovation. We also asked about the

...