Pros: The bill could hold bad actors accountable and prevent the worst excesses of harmful AI by issuing huge fines and preventing the sale and use of noncomplying AI technology in the EU. The bill will also regulate generative AI and impose some restrictions on AI systems that are deemed to create “unacceptable” risk, such as facial recognition. Since it’s the only comprehensive AI regulation out there, the EU has a first-mover advantage. There is a high chance the EU’s regime will end up being the world’s de facto AI regulation, because companies in non-EU countries that want to do business in the powerful trading bloc will have to adjust their practices to comply with the law. 

Cons: Many elements of the bill, such as facial recognition bans and approaches to regulating generative AI, are highly controversial, and the EU will face intense lobbying from tech companies to water them down. It will take at least a couple of years before it snakes its way through the EU legislative system and enters into force.

Influence rating: 5/5

Technical industry standards

Technical standards from standard-setting bodies will play an increasingly crucial role in translating regulations into straightforward rules companies can follow, says Dawson. For example, once the EU’s AI Act passes, companies that meet certain technical standards will automatically be in compliance with the law. Many AI standards exist already, and more are on their way. The International Organization for Standardization (ISO) has already developed standards for how companies should go about risk management and impact assessments and manage the development of AI. 

Pros: These standards help companies translate complicated regulations into practical measures. And as countries start writing their own individual laws for AI, standards will help companies build products that work across multiple jurisdictions, Dawson says. 

Cons: Most standards are general and apply across different industries. So companies will have to do a fair bit of translation to make them usable in their specific sector. This could be a big burden for small businesses, says Dawson. One bone of contention is whether technical experts and engineers should be drafting rules around ethical risks. “A lot of people have concerns that policymakers … will simply punt a lot of the difficult questions about best practice to industry standards development,” says Dawson. 

Influence rating: 4/5

The United Nations

The United Nations, which counts 193 countries as its members, wants to be the sort of international organization that could support and facilitate global coordination on AI. In order to do that, the UN set up a new technology envoy in 2021. That year, the UN agency UNESCO and member countries also adopted a voluntary AI ethics framework, in which member countries pledge to, for example, introduce ethical impact assessments for AI, assess the environmental impact of AI, and ensure that AI promotes gender equality and is not used for mass surveillance.