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EU Lawmakers Ratify Political Deal on Artificial Intelligence Rules

EU Lawmakers Ratify Political Deal on Artificial Intelligence Rules

BRUSSELS, Feb 13 (Reuters) - Two key groups of lawmakers at the European Parliament on Tuesday ratified a provisional agreement on landmark artificial intelligence rules ahead of a vote by the legislative assembly in April that will pave the way for the world's first legislation on the technology.

Called the AI Act, the new rules aim to set the guardrails for a technology used in a broad swathe of industries, ranging from banking to cars to electronic products and airlines, as well as for security and police purposes.

The rules will also regulate foundation models or generative AI like the one built by Microsoft-backed OpenAI (MSFT.O), which are AI systems trained on large sets of data, with the ability to learn from new data to perform various tasks.

" AI Act takes a step forward: MEPs in @EP_Justice & @EP_SingleMarket have endorsed the provisional agreement on an Artificial Intelligence Act that ensures safety and complies with fundamental rights," one of the two European Parliament committees said on X.

EU countries gave their backing earlier this month after France secured concessions to lighten the administrative burden on high risk AI systems and offer better protection for business secrets.

Big Tech however remained guarded, worried about the vague and general wording of some of the requirements and the impact of the law on innovation.

Reporting by Foo Yun Chee; Editing by Kirsten Donovan

An agenda-setting and market-moving journalist, Foo Yun Chee is a 20-year veteran at Reuters. Her stories on high profile mergers have pushed up the European telecoms index, lifted companies' shares and helped investors decide on their move. Her knowledge and experience of European antitrust laws and developments helped her broke stories on Microsoft, Google, Amazon, numerous market-moving mergers and antitrust investigations. She has previously reported on Greek politics and companies, when Greece's entry into the eurozone meant it punched above its weight on the international stage, as well as Dutch corporate giants and the quirks of Dutch society and culture that never fail to charm readers.