The Artificial Intelligence (AI) Act was proposed by the European Commission in April 2021. Three years later, after a frenetic legislative process that finished a historic 36-hour-long negotiation, a political deal was reached on 8th December 2023. The new EU Regulation will be fully applicable 2 years after its official approval by the Council and the European Parliament. Throughout the legislative debate, several developments have happened within the AI arena, including the blast of foundational models (i.e., including the launch of ChatGPT), which have led to the inclusion of specific transparency requirements for general purpose and generative AI technologies in the final text of the new EU Regulation. 

The AI Act represents the first risk-based legislation in the world, regulating the design and deployment of AI systems. The pro-active regulatory stance followed by the European Union in this area contradicts the approach followed by other countries: in China, for instance, AI tools are actively employed both by public institutions and private firms. By contrast, the USA and the UK have opted for a ‘wait and see’ approach, concerned that AI regulation could limit further market innovation. Due to its pioneer character, the AI Act has thus sparked debate on possible geo-political tensions that this legislation could cause in the future, as well as its possible ‘Brussels effect’ in other regions of the world. 

This webinar aims at ‘decoding’ the AI Act, focusing especially on the future global impact of this new legislation. First, the event aims at debating whether and to what extent the AI Act will lead other countries in the world to legislate in this field, as well as identifying possible geo-political tensions caused by the new EU Regulation. Secondly, the webinar discusses the impact of the new EU Regulation on innovation in AI markets, both in Europe and in other regions of the world.