The Latest: The Council of the EU has proposed its amendments to the draft act of the European Union’s Regulation on Artificial Intelligence (AI Act). The next step in the legislative process is for the European Parliament to finalise their common position before interinstitutional negotiations with the Council. Implications: We previously outlined the AI Act rules alongside the corresponding liability legislation. The proposed changes are more user- and business-friendly, with proportionate caps on fines to SMEs and start-ups who usually find compliance most difficult due to higher costs. Some of the transparency requirements were simplified and more guidance on allocation of responsibility has been provided. The high-risk criteria also had seen some amendments with which systems do and no not qualify within the scope of the amended rules. There is still much to be decided before the AI Act can be implemented but it has a key position on the EU's agenda and we have updated the potential legislative timeline, factoring its introduction into overall IT spending trends in Europe, even though we do not forecast spending on AI per se.
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