Timo Minssen provided insights on the AI Act in TUM blog:
After an intense three-day negotiation marathon, negotiators from the Council presidency and the European Parliament have successfully reached a provisional agreement on the proposal concerning standardized regulations for artificial intelligence (AI), known as the Artificial Intelligence Act. The objective of the draft regulation is to guarantee the safety of AI systems introduced to the European market and employed within the EU, with a commitment to upholding fundamental rights and EU values. This groundbreaking proposal additionally seeks to foster increased investment and innovation in the field of AI within Europe. Following this provisional agreement, efforts will persist at a technical level in the upcoming weeks to conclude the specifics of the new regulation. Once this work is completed, the presidency will present the compromise text to the representatives of the member states for endorsement. The comprehensive text will require confirmation from both institutions and undergo legal-linguistic revision before formal adoption by the co-legislators.