Europe is on the verge of adopting the AI Act, anticipated to be the world’s first comprehensive artificial intelligence regulations. The European Union lawmakers are expected to approve these groundbreaking rules, which aim to govern AI usage within the 27-member bloc through a risk-based framework. High-risk AI sectors like medical devices and critical infrastructure will face stringent regulations, including the prohibition of certain AI applications considered to possess unacceptable risks. Moreover, AI-utilizing companies will need to adhere to these regulations, including incident reporting and energy usage disclosure.

The AI Act is lauded for its focus on maintaining human oversight over technology. It also indicates a move towards global AI governance, with other major players like the United States and China progressing in similar directions. Penalties for non-compliance could reach up to 35 million euros or 7% of a company’s global turnover. With enforcement structures being established, the AI Act is expected to be fully operational by mid-2026.

In a separate development, the United States is inching closer to a potential ban on the social media platform TikTok, with the House of Representatives passing a bill that necessitates ByteDance, TikTok’s parent company, to divest its interest in the app or face a total ban. The bill, which passed with 352 votes, addresses concerns over user data privacy and potential content censorship by the Chinese government. Despite TikTok’s reassurances about US data security, skepticism remains among lawmakers.

The proposed legislation provides a 165-day period for ByteDance to comply, failing which TikTok could be removed from major app stores like Apple and Google Play. While the bill intends to protect US interests, TikTok views it as a direct threat to its operational viability in the country. The bill now awaits Senate deliberation, putting TikTok’s presence in the US in uncertainty.