The EU Is Proposing Regulations On AI--And The Impact On Healthcare Could Be Significant

The emphasis and development of artificial intelligence (AI) is swiftly growing, with innovators across the globe trying to create more viable use-cases for this groundbreaking technology. AI's market reach has penetrated nearly every large industry, including manufacturing, retail, infrastructure, financial services, defense, and healthcare, among countless other sectors. Healthcare especially has experienced an incredible amount of attention in the AI space. The value proposition of AI in healthcare is undoubtedly extensive, especially as the industry is poised to surpass over $11 trillion in market valuation, and given that healthcare is such an inherently data-rich, innovation heavy, and operationally nuanced field. Last week, the European Union (EU) put forth its "Proposal for a Regulation on a European approach for Artificial Intelligence," intending to create "the first ever legal framework on AI, which addresses the risks of AI and positions Europe to play a leading role globally."