EU launches office to implement AI Act and foster innovation

The European Union has launched a new office dedicated to overseeing the implementation of its landmark AI Act, which is regarded as one of the most comprehensive AI regulations in the world. This new initiative adopts a risk-based approach, imposing stringent regulations on higher-risk AI applications to ensure their safe and ethical deployment.

The primary goal of this office is to promote the “future development, deployment and use” of AI technologies, aiming to harness their societal and economic benefits while mitigating associated risks. By focusing on innovation and safety, the office seeks to position the EU as a global leader in AI regulation and development.

According to Margerthe Vertager, the EU competition chief, the new office will play a “key role” in implementing the AI Act, particularly with regard to general-purpose AI models. She stated, “Together with developers and a scientific community, the office will evaluate and test general-purpose AI to ensure that AI serves us as humans and upholds our European values.”

Sridhar Iyengar, Managing Director for Zoho Europe, welcomed the establishment of the AI office, noting, “The establishment of the AI office in the European Commission to play a key role with the implementation of the EU AI Act is a welcome sign of progress, and it is encouraging to see the EU positioning itself as a global leader in AI regulation. We hope to continue to see collaboration between governments, businesses, academics and industry experts to guide on safe use of AI to boost business growth.”

Iyengar highlighted the dual nature of AI’s impact on businesses, pointing out both its benefits and concerns. He emphasised the importance of adhering to best practice guidance and legislative guardrails to ensure safe and ethical AI adoption.

“AI can drive innovation in business tools, helping to improve fraud detection, forecasting, and customer data analysis to name a few. These benefits not only have the potential to elevate customer experience but can increase efficiency, present insights, and suggest actions to drive further success,” Iyengar said.

The office will be staffed by more than 140 individuals, including technology specialists, administrative assistants, lawyers, policy specialists, and economists. It will consist of various units focusing on regulation and compliance, as well as safety and innovation, reflecting the multifaceted approach needed to govern AI effectively.

Rachael Hays, Transformation Director for Definia, part of The IN Group, commented: “The establishment of a dedicated AI Office within the European Commission underscores the EU’s commitment to both innovation and regulation which is undoubtedly crucial in this rapidly evolving AI landscape.”

Hays also pointed out the potential for workforce upskilling that this initiative provides. She referenced findings from their Tech and the Boardroom research, which revealed that over half of boardroom leaders view AI as the biggest direct threat to their organisations.

“This initiative directly addresses these fears as employees across various sectors are given the opportunity to adapt and thrive in an AI-driven world. The AI Office offers promising hope and guidance in developing economic benefits while mitigating risks associated with AI technology, something we should all get on board with,” she added.

As the EU takes these steps towards comprehensive AI governance, the office’s work will be pivotal in driving forward both innovation and safety in the field.

(Copyright: AI News EU launches office to implement AI Act and foster innovation (artificialintelligence-news.com)