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When it comes to envisioning a future with Artificial Intelligence (AI) technology, many people have begun to recognize the importance of regulating this technology. Until recently, though, there has been a general consensus that AI lacked the necessary set of laws, rules, or guidelines to ensure fairness and accountability. Companies who had been developing and deploying AI models have been operating without any external regulation or oversight.

However, with the European Union’s pending AI Act, the US may soon see a shift in how AI is approaches, designed, and regulated. This new form of regulation will hopefully ensure that AI algorithms are built in a safe, ethical manner and that companies use the technology responsibly.

The AI Act will also impose restrictions on how AI models can be deployed and used. For example, companies must make sure that the AI is not used to discriminate based on gender, race, or other protected classes, as well as must ensure that the algorithms are secured against malicious actors. In addition, AI Act regulations will require companies to report any changes made to the AI models and present a detailed explanation of why these changes were made.

The AI Act has the potential to influence the behavior of companies that develop and deploy AI models and also serves as an important step towards ensuring the responsible use and ethical implementation of AI technologies. Regulations such as forced explainability, responsible data use, and security measures are just a few of the many restrictions that the AI Act will impose. As the European Union continues to implement the AI Act, there is a good chance that the US will eventually follow suit, providing the tech industry with the guidance and regulations it needs to move forward in ethical and safe manner.