EU Tightens AI Rules: Fines Up to €35 Million

user avatar

by Giorgi Kostiuk

2 years ago

Starting today, the European Union enforces strict regulations on AI systems deemed high-risk. Companies violating these rules may face substantial fines.

Main Provisions of the AI Act

The AI Act, approved by the European Parliament last March, came into effect in August. Companies in the EU must comply with its requirements. Violators face fines of up to €35 million or 7% of global revenue, whichever is higher.

Prohibited AI Systems

The EU has banned AI systems that manipulate human behavior or exploit vulnerabilities, as well as those that assess people by behavior or appearance for predicting crimes. Biometric surveillance and emotion-detection in schools and workplaces are also forbidden.

Corporate Reactions

Over 100 tech companies, including Google and Amazon, signed a voluntary pledge to comply with EU rules, while Meta and Apple refused due to innovation concerns. The AI Act allows law enforcement to use biometric AI systems under specific conditions.

The EU's new rules pose a significant challenge for the AI industry, requiring adherence to strict standards of safety and ethics to protect users from the risks associated with artificial intelligence.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

XRP Ledger Foundation Unveils Quantum-Resistant Protocol Roadmap

The XRP Ledger Foundation has unveiled a roadmap focusing on quantum-resistant account options, including the study of MLDSA44.

user avatarLucas Weissmann

EU Seeks Nominations for New Tokenisation Standards Group

European authorities are inviting nominations for a new Tokenisation Standards Group to enhance coordination in the financial system.

user avatarFilippo Romano

Walt Introduces Standalone Android App for Cryptocurrency Trading

Walt has launched a standalone Android app for cryptocurrency trading, allowing users to sign up without a Telegram account.

user avatarEmily Carter

Charles Schwab Expands Crypto Trading Menu with New Altcoins

Charles Schwab has expanded its crypto trading menu to include Solana, Avalanche, and Chainlink, allowing eligible clients to trade a wider range of cryptocurrencies.

user avatarTomas Novak

24X and Standard Chartered Enhance Partnership for Institutional Crypto Trading

24X Bermuda expands its partnership with Standard Chartered to facilitate institutional trading of Bitcoin and Ether, enhancing access to cryptocurrency and foreign exchange.

user avatarKaterina Papadopoulou

Strategy's Dual Approach: Bitcoin Acquisition and Preferred Share Repurchase

On November 9, Strategy announced the acquisition of 1,036 additional Bitcoin alongside the repurchase of approximately 188 million STRC preferred shares.

user avatarMaya Lundqvist

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.