Study warns of compliance costs for regulating Artificial Intelligence

Euractiv | Jul 26, 2021 at 7:03 PM
  • The EU’s forthcoming regulation on Artificial Intelligence could cost the bloc’s economy up to €31 billion over the next 5 years and cause investments to shrink by as much as 20%.
  • The assessment by the Centre for Data Innovation looked into the administrative costs of the Artificial Intelligence Act (AIA), a horizontal EU regulation to introduce increasing obligations based on the level of risk associated with the application of the groundbreaking technology.
  • The Commission’s risk-based approach is meant to provide a solid regulatory environment in which consumers can trust AI applications.