The AI Act's rules on banned AI systems including facial recognition systems start to apply 2 February. View on euronews

Royal Philips NV urged the European Union not to create regulatory hurdles that might slow progress in artificial intelligence, amid growing concern about the continent’s absence in the race to develop the technology.

One of the main problems of the EU AI Act is its risk-based approach to AI regulation. Under the Act, AI systems are classified by their risk level, and high-risk systems will be subject to the most strict requirements. This classification system is problematic for several reasons:

The European Union will propose establishing an advanced research project agency modeled on US government entities to invest in strategic technologies as part of a broader drive to boost the bloc’s competitiveness.

AI, biotech and affordable clean energy will be the focus of an EU drive to make the bloc globally competitive and ensure it keeps pace with rivals the United States and China, according to a draft European Commission paper seen by Reuters.

Arbitration parties, arbitrators and administering institutions can all benefit from AI so long as its risks and limitations are fully understood and appropriately addressed.

BRUSSELS: Artificial intelligence (AI), biotech and affordable clean energy will be the focus of a European Union (EU) drive to make the bloc globally competitive and ensure it keeps pace with rivals the United States and China,

As the February 2nd deadline approaches, CISOs and CCOs face the pressing task of aligning their organizations with the EU AI Act’s stringent requirements. Chapter 1, Article 4 mandates AI literacy for all staff involved in AI operations,

In 2024, the banking sector had quite a year! From a regulatory perspective, the EU AI Act was introduced reinforcing transparency as well as the safe, ethical, and responsible use of AI. The law is particularly important and relevant for the banking sector as AI technology (especially statistical AI) is already used broadly in credit checks as well as pricing and risk assessment in life and health insurance.

AI technologies are transforming cybersecurity by enabling systems to process massive datasets in real-time, detect threats with precision, and automate responses. These capabilities have significantly enhanced the efficiency and accuracy of cybersecurity efforts.

DeepSeek proves Silicon Valley can't monopolise AI innovation, says RocketPhone's CEO. He wants the startup to inspire European AI talent.

Wall Street analysts rerated NVIDIA Corp NVDA -3.53% Get Free Report after U.S. tech stocks plunged Monday as Chinese open-source artificial intelligence platform DeepSeek made the market jittery over the AI technology investment prospects in the U.S. tech firms.