A regulatory framework for a competitive AI innovation landscape
The German Insurance Association (GDV) welcomes the European Parliament's Legal Affairs Committee's draft of the planned regulatory framework for artificial intelligence (AI).
In order for the great potential of applications based on artificial intelligence (AI) to unfold, a trustworthy legal framework is required.
The regulatory framework for artificial intelligence (AI) in the European Union continues to be debated among the EU institutions. The European Council has already presented a compromise proposal and the European Parliament is also actively working on the AI issue. Currently, several committees of the European Parliament are dealing with the Commission's AI regulation proposal. Thus, on 11 April 2022, the two joint lead committees are expected to present their proposal.
Among the committees consulted, the Legal Affairs Committee (JURI) plays an important role. The rapporteur responsible has submitted his own proposal for the new regulatory framework, on which the German Insurance Association (GDV) has commented.
In this context, the insurance industry particularly welcomes the proposed restriction of the previous AI definition, which focuses more on machine learning and a certain degree of autonomy. This creates space for future innovative applications. The call for strict adherence to the risk-based approach is also supported by GDV.