EU set to ratchet up AI fines to 6% of turnover: EU document



© Reuters.

By Foo Yun Chee

BRUSSELS (Reuters) – Companies that use banned artificial intelligence applications in breach of EU rules could face fines as much as 6% of their global turnover, up from a previously proposed 4%, according to a revised European Commission document set to be announced on Wednesday.

The AI rules could help the European Union take the lead in regulating a technology that critics say has harmful social effects and can be used as a tool for social control by authoritarian governments, while supporters see it as an engine of economic growth.

The latest draft, first reported by French online news publication Contexte and reviewed by Reuters, said infringing companies can be fined up to 30 million euros or 6% of their worldwide revenue for using AI applications to materially distort people’s behaviour, exploit the vulnerable or for using biased data in social scoring.

Providing incorrect or misleading information to authorities can lead to fines up to 2% of turnover.

The revised rules recognise the threat facial recognition poses to people’s rights and freedom but said it can be used to search for missing children or criminals and in cases of terrorist attacks.

Its use should be authorised by a court or an independent administrative body and limited in time and space.

Civil and digital rights have in recent months urged authorities to ban biometric mass surveillance tools such as facial recognition systems, concerned about risks to privacy and fundamental rights and their abuse by repressive regimes.

The draft rules, which have to be thrashed out with EU countries and the European Parliament in the coming months before they can go into effect, will be announced by European technology chief Margaret Vestige on Wednesday.

READ  Volkswagen explores new sales model for electric models in China
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here