The best way to regulate artificial intelligence? The EU's AI Act

With the Artificial Intelligence Act (AI Act), we have – again – crossed the Rubicon. The die has been cast, there is no way back. We are setting standards for another industry that until now has been left mostly on its own, that has important social functions, and that is of central importance in the global tech rivalry. The European electorate was and still is quite united in demanding rules for digital players while maintaining easy digital access and a competitiveness for all things digital. With the AI Act and other legislation currently under way in such fields as cybersecurity, data, crypto and chips, the European Union is finalizing what it began with the General Data Privacy Regulation (GDPR), the Digital Services Act (DSA) and the Digital Markets Act (DMA). It will surely not be the last time digital policy is undertaken in Brussels, and updates to these regulations are partly already necessary.