According to Reuters (https://reuters.com), Europe will initiate landmark rules on artificial intelligence in June of 2024. The ruling came alongside a political deal reached in December and set a potential benchmark for the technology.
The approach by the European Union is more in depth and comprehensive than the voluntary compliance of the United States. The AI legislation was originally drafted by the European Commission in 2021 after making a number of changes. There are concerns about AI making contributions to misinformation, fake news and other material that may be copyrighted.
The act places strict transparency obligations on high-risk AI systems. General purpose AI models have a less strict obligation. The act has a reach that extends beyond the EU as those companies outside of the area that use EU customer data in their platforms will need compliance.