Since the release of ChatGPT in November 2022, artificial intelligence has become a hot topic globally. This burgeoning field has also captured the attention of cryptocurrency enthusiasts. While the European Union is still working on comprehensive cryptocurrency regulations, it is now making strides in the realm of artificial intelligence.

European AI Bureau

The newly established European AI Bureau will serve as the primary body for overseeing, reviewing, and researching AI across the EU. As AI becomes more widespread, this bureau will focus on regulation, compliance, safety, robotics, and societal benefits. Recently, an EU institution emphasized that the complexity of AI should not be an excuse for failing to follow regulations. This highlights the crucial role of the AI Bureau. For the latest updates on finance and business, visit COINTURK FINANCE.

According to Eurostat, the EU’s statistical office, only 8% of European businesses with over ten employees utilized AI last year, particularly in countries like Denmark, Finland, and Luxembourg. The AI Bureau will also work on promoting the benefits and adoption of AI to enhance efficiency.

AI in Europe

The Markets in Crypto-Assets (MiCA) regulation served as a comprehensive guideline for many states in the realm of cryptocurrencies, despite some flaws. Now, the EU is poised to lead in both the adoption and regulation of AI. European Commission Vice President Margrethe Vestager remarked on the recent progress:

“The bureau will assess general-purpose AI in collaboration with developers and the scientific community. It will test AI to ensure it serves humanity and upholds our European values.”

The AI Act, passed in December, is the first extensive law on AI globally and will take effect after June. The AI Bureau was created in conjunction with this law. Lucilla Sioli, who is currently the Director of AI and Digital Industry within the European Commission, will head the bureau.

The bureau will have a staff of 140, with the European Commission having selected less than half so far. The process of identifying and choosing the remaining 80 personnel is ongoing.

Conclusion

The establishment of the European AI Bureau marks a significant step in the regulation and adoption of artificial intelligence within the EU. As AI continues to evolve, the bureau's role will be crucial in ensuring that AI development aligns with European values and benefits society as a whole.