EU sets ball rolling on regulating AI
China DailyWhile many of its clauses are still to be updated in light of the changing situation, the European Union's Artificial Intelligence Act as the first comprehensive regulation on AI sets a precedent for efforts to put the flourishing technology under control. By classifying AI models into four categories, namely those with unacceptable risk, high risk, limited risk and minimal risk, the EU AI Act has set standards for the AI models in the market and respective guidelines in principle for them to follow. Especially, the act spends a high percentage of its text on regulating General Purpose AI, which is generally believed to be a high-risk AI system or one that can form a high-risk one, a timely echo to the times with the popularity of ChatGPT and other Large Language Models. They will have to heed the new act to ensure compliance in the EU market, but the stricter self-regulation will be an advantage in gaining public trust when they enter other markets of the world, as putting AI under control has already become a worldwide consensus and is a general trend that will apply sooner or later in all major regions of the world.