Compromise proposal on the EU's legal framework for artificial intelligence
In Brussels, work on the regulatory framework for artificial intelligence continues to progress. The Council has presented a compromise proposal.
Artificial intelligence is the basis of innovative products and new services around insurance.
The European Parliament is also continuing to work on the AI issue. The German insurance industry welcomes the narrower definition of AI systems contained in the compromise proposal, but urges restraint and external moderation in the regulation of AI applications. To classify the diverse AI applications in the insurance sector as "high-risk" across the board is going in the wrong direction.
This would not only result in additional burdens and obstacles for insurers, but would also make innovative applications for the benefit of customers more difficult. In our view, this is not justified, as the existing regulations already provide adequate protection for customers when using AI.