EU ‘final’ talks to fix AI rules to run into second day — but deal on foundational models is on the table

European Union lawmakers have reached a preliminary agreement on how to regulate artificial intelligence, specifically concerning rules for foundational models/general purpose AIs (GPAIs). The agreement retains elements of the tiered approach to regulating these advanced AIs proposed earlier this year, with some exceptions for open source advanced AIs.

These developments in AI regulation in the EU will have a significant impact on businesses using or developing advanced AI models, particularly GPAIs, as they will need to adhere to specific evaluation, incident reporting, cybersecurity, and documentation requirements in order to comply with the proposed regulations. The discussions and potential implementation of the AI Act will also shape the future landscape of AI governance and usage in the EU, influencing businesses and organizations operating in the region.