The European Union is planning to regulate artificial intelligence (AI) to ensure its ethical and safe use across the continent. The proposed regulations will include fines for violations, and stricter rules for high-risk AI systems, such as those used in recruitment processes, critical infrastructure, and law enforcement. Companies that develop AI could face fines of up to 20 million euros or 4% of their global turnover for non-compliance. The move by the EU is seen as a major step towards setting global standards for AI.
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