The European Approach to Building AI Policy and Governance: A Haven for Bureaucrats or Innovators?

Disruptive technologies and the domination of digital platforms have challenged the global economy players twice — first, to get a hand on them, then to mitigate the possible risks. It is beyond doubt that reliable artificial intelligence (AI) can bring many benefits at the European level, such as better health care, safer and cleaner transport, more efficient manufacturing, and sustainable energy. But regulating the unknown requires considerable effort on how to attract investors using clear rules while keeping human control over the algorithms as a priority. In April 2021, the EU Commission published a holistic proposal to regulate the use of AI, which promises to put trust first and ensure that facial recognition and big data operators will never abuse fundamental human rights. Although the proposal is likely to be amended during EU-wide discussions, the new approach to AI will clearly give citizens the reassurance to adopt these technologies while encouraging companies to develop them. Hence, this article aims to map the core challenges for the EU policy on the use of AI, as well as the milestones of developing the holistic legislative proposal, and clarify if the afore-mentioned proposal indeed solves all the AI-related risks for future generations.