Examining Marketing Impact of EU AI Act

On April 21, the EU officially proposed the Artificial Intelligence Act, outlining the ability to monitor, regulate and ban uses of machine learning technology. The goal, according to officials, is to invest in and accelerate the use of AI in the EU, bolstering the economy while also ensuring consistency, addressing global challenges and establishing trust with human users. AI use cases with unacceptable risk will be banned outright. High-risk applications, similarly, pose a high risk to health, safety and fundamental rights, though the debate around the definition of "high risk" has been raging since last year, with more than 300 organizations weighing in. These AI applications are allowed on the market only if certain safeguards are in place, such as human oversight, transparency and traceability.