Inline Insights

In the ever-changing global landscape marked by geopolitical tensions and technological shifts, the European Commission is fortifying the economic security of the European Union with a series of new initiatives.

After an intense three-day negotiation marathon, the European Parliament and the Council of the EUreached a provisional agreement on the much-anticipated EU AI Act on 8 December 2023. As the world’s first comprehensive legislation on artificial intelligence (AI), this marks a pivotal moment in global AI regulation. With a risk-based approach, the AI Act introduces a structured approach to AI oversight, tailoring regulations to the complexity and capability of various AI systems. 

The European Union’s economic framework has for a long time been underpinned by advances in technology. Yet, in our rapidly evolving digital era, innovation may in some cases pose a threat to economic security. The European Commission has therefore announced that it will undertake in-depth risk assessments across a number of critical technologies. While this initiative pivots on reducing tech vulnerabilities, it also encompasses geopolitics, strategic partnerships, and safeguarding the EU’s economic interests.