Will the Artificial Intelligence Act put a limit on AI or businesses?

The proposed regulation on Artificial Intelligence under discussion in the EU, or the Artificial Intelligence Act (AIA), defines various areas of intervention on AI systems: “applications prohibited because they cause unbearable risks for fundamental rights and freedoms; high-risk applications (not prohibited but subject to specific conditions to manage risks); limited risk applications and other negligible risk applications. The list of prohibited AI systems includes online manipulative practices that cause physical or psychological harm to individuals or exploit their vulnerability on the basis of age or disability; social scoring that produces disproportionate or decontextualized harmful effects; and biometric identification systems used by police authorities in public spaces (when their use is not strictly necessary or when the risk of harmful effects is too high) “. For the first time, European regulators are attempting to define a boundary or limit that should not be exceeded when using AI-based services or products in society. “Unlike banned AI systems, AI systems classified as ‘high risk’ are not banned by default, but subject to various compliance obligations. These obligations include, among others, a risk management plan, a compliance certification, a data management plan, human supervision ”. And it is especially in this risk range that artificial intelligence in Europe could end up costing the EU economy € 31 billion over the next five years, according to a report by the Center for Data Innovation released on Sunday. The Artificial Intelligence Act, which is expected to become the world’s most restrictive regulation on artificial intelligence, according to American report “It will not only limit the development and use of AI in Europe, but will impose significant costs on companies and consumers of the EU “. The Center for Data Innovation believes that a small or medium-sized business with a turnover of 10 million euros would have to incur compliance costs of up to 400,000 euros if it decides to implement a high-risk artificial intelligence system. A definition that covers a wide range of potential applications, “from critical infrastructures to vocational education and training, subjecting them to a series of requirements before companies can bring them to market.” European countries € 10.9 billion a year by 2025, or € 31 billion over the next five years: “The Commission has repeatedly stated that draft AI legislation will support growth and innovation in the European digital economy , but a realistic economic analysis suggests that the argument “is at least debatable. It should also be mentioned that the Center for Data Innovation is part of the Information Technology and Innovation Foundation, a non-profit association also supported by Amazon, Apple and Microsoft.