The EU’s AI Act is now in force
TechCrunchJUL 2024
US, EU, UK Sign International AI Treaty
Above: Heads of state and government stand during the opening of the Council of Europe summit on May 16, 2023 in Reykjavik, Iceland. Image copyright: Alastair Grant/WPA Pool/Getty Images News via Getty Images
The Spin
Narrative A
Having witnessed a series of voluntary agreements in the UK and South Korea, the shift to legally binding commitments is a welcome step forward in the bid to appease growing concerns over the dangers AI may pose to humanity. While tech regulation is not without its critics, and questions remain over ensuring effective implementation, the treaty is nonetheless a landmark milestone.
Narrative B
Following pressure from countries such as the US, the COE's public sector-focused convention is unfortunately filled with caveats and exemptions. With private companies mostly excluded and the use of ambiguous language likely to hinder enforcement, the AI treaty is far from what many had hoped and expected.
Narrative C
AI hysteria has led to a demand for regulation far too early in the technology's development. While AI's capabilities may certainly one day reach a level of sophistication or danger that requires intervention, evidence from Europe shows that, for now, this will likely only stifle research and innovation out of fear of an unlikely existential crisis.