The first legal framework on AI – Is this for real?

No wonder, AI has made it possible to accomplish tasks that were once thought to be out of our league. Right from controlling the traffic to assisting the surgeons in performing the various medical procedures, AI has carved a niche for itself. What has always been a hot topic of discussion is the Regulation aspect of AI. On that note, The EU Commission adopted a proposal for the first legal framework on AI recently. This aims at imposing obligations on businesses across multiple sectors, including that of the life sciences (the Regulation). AI, under the Regulation, is defined as the "software that is developed with one or more of [certain] approaches and techniques and can, for a given set of human-defined objectives, generate outputs such as content, predictions, recommendations, or decisions influencing the environments they interact with."