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How the EU's Upcoming AI Act Impacts Businesses Worldwide - Insights by Marijana Šarolić Robić.

This insightful presentation by Marijana Šarolić Robić, an Attorney at Law, explores how the EU's pioneering legislation in AI could set a new global standard, influencing industries far beyond European borders.

Welcome, today we delve into a topic that's becoming increasingly important for business leaders around the globe: the impact of the European Union's upcoming AI Act on global business practices.

Whether you're a tech enthusiast, a business owner, or simply keen on understanding the future of AI regulations, this video will provide valuable insights into how these changes may affect your business and the broader global market.

Since the audio quality might be challenging, we've provided a written transcript summary below.

Marijana Šarolić Robić:

"Various software applications based on artificial intelligence, be it deep learning, machine learning, or other forms, are increasingly surrounding us. We have already integrated these AI technologies deeply into our lives.

For the past six or seven years, European Union institutions have been drafting what is called the AI Act. This Act is set to define 'AI Made in Europe.' It addresses different stages of risk that are considered acceptable or unacceptable when it comes to technology. For example, in some countries, social scoring is completely acceptable, aligning with their cultural values.

This includes the use of technologies like facial recognition and dark patterns in systems such as transportation safety, employment, education, border control, and justice systems.

There are four levels of risk: unacceptable, high, limited, and minimal. Each has its own compliance implications. This is relevant to you, regardless of your field, as the EU is likely to implement this law soon, potentially setting a global standard.

The key is to use technology for the benefit of humanity.

We must remain the educated masters of these tools, not mere consumers. The EU's ethic guidelines, released in 2018, set seven requirements for AI systems, including oversight, technical robustness, safety, privacy, transparency, non-discrimination, and environmental impact.

As we live in a world of uncertainty, safety becomes crucial. Privacy and data governance, already established by GDPR, continue to be a priority. Transparency in AI decision-making processes is vital to ensure fairness and diversity.

The big question is: Who will be accountable for breaches or damages caused by technology? We are evolving, acquiring new skills and knowledge to reap the benefits that technology brings. AI is no different from any other technology in history. It's about how we use it.

Finally, AI will never replace human traits like curiosity, humility, or emotional intelligence. I encourage you all to dive into the world of AI, see how it can benefit you as individuals and professionals, and secure your place in this evolving world."

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