financetom
Business
financetom
/
Business
/
EU picks experts to steer AI compliance rules
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU picks experts to steer AI compliance rules
Oct 1, 2024 2:51 AM

LONDON, Sept 30 (Reuters) - The European Union has

picked a handful of artificial intelligence experts to decide

how strictly businesses will have to comply with a raft of

incoming regulations governing the technology.

WHY IT'S IMPORTANT

On Monday, the European Commission will convene the first

plenary meeting of working groups -- made up of external experts

-- tasked with drawing up the AI Act's "code of practice", which

will spell out how exactly companies can comply with the

wide-ranging set of laws.

There are four working groups, focused on issues such as

copyright and risk mitigation. Experts selected to oversee the

groups include Canadian scientist and "AI godfather" Yoshua

Bengio, former UK government policy adviser Nitarshan Rajkumar,

and Marietje Schaake, a fellow at Stanford University's Cyber

Policy Center.

Big tech companies such as Google and Microsoft ( MSFT )

will be represented at the working groups, as will a

number of nonprofit organisations and academic experts.

While the code of practice will not be legally binding when

it takes effect in 2024, it will provide firms with a checklist

they can use to demonstrate their compliance. Any company

claiming to follow the law while ignoring the code could face a

legal challenge.

CONTEXT

AI companies are highly resistant to revealing the content

their models have been trained on, describing the information as

a trade secret that could give competitors an unfair advantage

were it made public.

While the AI Act's text says some companies will be obliged

to provide detailed summaries of the data used to train their AI

models, the code of practice is expected to make clearer just

how detailed these summaries will need to be.

One of the EU's four working groups will focus specifically

on issues around transparency and copyright, and possibly result

in companies effectively being forced to publish comprehensive

datasets, leaving them vulnerable to untested legal challenges.

In recent months, a number of prominent tech companies,

including Google and OpenAI have faced lawsuits from creators

claiming their content was improperly used to train their

models.

WHAT'S NEXT

After Monday, the working groups will convene three more

times before a final meeting in April, when they are expected to

present the code of practice to the Commission.

If accepted, companies' compliance efforts will be measured

against the code of practice from August 2025.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Phillips 66 reports smaller-than-expected fourth quarter loss on renewables strength
Phillips 66 reports smaller-than-expected fourth quarter loss on renewables strength
Jan 31, 2025
(Reuters) -Refiner Phillips 66 reported a smaller-than-expected loss on Friday as strength in its renewables segment offset a sharp decline in refining margins. The renewables fuels segment reported a quarterly profit of $28 million, compared to a loss of $11 million from a year earlier. The U.S. refining industry saw exceptional profits for two years following supply shortages from Russia's...
Merck Says EU Regulator Panel Recommends Approval of Pneumonia Vaccine
Merck Says EU Regulator Panel Recommends Approval of Pneumonia Vaccine
Jan 31, 2025
07:10 AM EST, 01/31/2025 (MT Newswires) -- Merck ( MRK ) said Friday that the European Medicines Agency's Committee for Medicinal Products for Human Use has recommended the approval of its Capvaxive vaccine to prevent invasive disease and pneumonia caused by Streptococcus pneumoniae in adults 18 years and older. The European Commission will review the recommendation for marketing authorization in...
Brookfield Business Partners Swings to Q4 Net Loss, Revenue Declines
Brookfield Business Partners Swings to Q4 Net Loss, Revenue Declines
Jan 31, 2025
07:10 AM EST, 01/31/2025 (MT Newswires) -- Brookfield Business Partners ( BBU ) swung to a Q4 net loss Friday of $2.02 per limited partnership unit, compared with net income of $6.57 per unit a year earlier. One analyst polled by FactSet expected $0.13. Revenue for the quarter ended Dec. 31 was $7.43 billion, down from $13.41 billion a year...
Booz Allen Hamilton Fiscal Q3 Adjusted Earnings, Revenue Increase; Fiscal 2025 Guidance Revised
Booz Allen Hamilton Fiscal Q3 Adjusted Earnings, Revenue Increase; Fiscal 2025 Guidance Revised
Jan 31, 2025
07:09 AM EST, 01/31/2025 (MT Newswires) -- Booz Allen Hamilton ( BAH ) reported fiscal Q3 adjusted earnings Friday of $1.55 per diluted share, up from $1.41 a year earlier. Analysts polled by FactSet expected $1.52. Revenue for the quarter ended Dec. 31 was $2.92 billion, compared with $2.57 billion a year earlier. Analysts surveyed by FactSet expected $2.87 billion....
Copyright 2023-2026 - www.financetom.com All Rights Reserved