Europe gets ready to police frontier AI
Summary
The European Union is set to gain sweeping new powers to regulate large general purpose AI models, marking a major milestone in global AI safety enforcement. From August 2, the European Commission can demand information, conduct safety evaluations, pull models from the market, and fine companies up to 3% of annual turnover. While infrastructure and a Code of Practice are in place, the regulation's success depends on the Commission's political willingness and resources to police major U.S. and Chinese tech giants.
(Source:The Parliament Magazine)