Investment reports and financial analyses

Council of Europe and EU Adopt First Worldwide AI Act and Treaty

May 21, 2024, 09:19 AM

The Council of Europe has adopted the first international treaty on artificial intelligence (AI), known as the Council of Europe Framework Convention on artificial intelligence and human rights, democracy, and the rule of law. This treaty, adopted in Strasbourg, implements a risk-based approach to all phases of AI to protect human rights, democracy, and the rule of law. In parallel, the European Union (EU) has unanimously adopted the AI Act, the first worldwide regulation on AI. The AI Act, which will be published in the official journal of the European Union in the coming days, ensures that the uses of AI will be secure, trustworthy, and ethical. The landmark legislation, agreed upon by the 27 Member States and adopted by Telecoms ministers in December 2023, will take effect in June 2024.