AI regulation in Europe: from the AI act to future regulatory challenges

Abstract

This chapter provides a comprehensive discussion on AI regulation in the European Union, contrasting it with the United Kingdom�s more sectoral and self-regulatory approach. It argues for a hybrid regulatory strategy that combines elements from both philosophies, emphasizing the need for agility and safe harbours to ease compliance. The paper examines the EU�s AI Act as a pioneering legislative effort to address the multifaceted challenges posed by AI, asserting that, while the Act is a step in the right direction, it has shortcomings that could hinder the advancement of AI technologies. The paper also anticipates upcoming regulatory challenges, such as the management of toxic content, environmental concerns, and hybrid threats. It advocates for immediate action to create protocols for regulated access to high-performance, potentially open-source AI systems. Although the EU�s AI Act is a significant legislative milestone, it needs additional refinement and global collaboration for the effective governance of rapidly evolving AI technologies.