Would that the EU were as fast at innovating as they are at regulating

 Link:  The European Parliament approved the AI Act, which raises the cost of European innovation.

➵ High-risk AI systems will be assessed before being put on the market and also throughout their lifecycle. People will have the right to file complaints about AI systems to designated national authorities. ➵ Generative AI, like ChatGPT, will not be classified as high-risk but will have to comply with transparency requirements and EU copyright law.

➵ Fines for non-compliance can be up to 35 million Euros or 7% of worldwide annual turnover.