"Regulation laying down harmonised rules on artificial intelligence"
AI Regulation"). The AI Regulation is the first ever legal framework, globally, focused solely on artificial intelligence ("
AI") and has striking similarities to the GDPR. If adopted as drafted, the AI Regulation would have significant consequences for many organisations who develop, sell or use AI systems, including the introduction of a new set of legal obligations and a monitoring and enforcement regime with hefty penalties for non-compliance.
At its heart, the AI Regulation is focused on the identification and monitoring of "high risk" AI systems and the key questions for organisations who develop, sell or use AI will be whether the AI system in question is likely to be considered "high risk" and what this means for those "high-risk" AI systems if the AI Regulation is adopted, as drafted.