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LONDON, March 22 (Reuters) - The AI Act is expected to be a landmark piece of EU legislation governing the use of artificial intelligence in Europe that has been in the works for over two years.

Lawmakers have proposed classifying different AI tools according to their perceived level of risk, from low to unacceptable. Governments and companies using these tools will have different obligations, depending on the risk level.

The Act is expansive and will govern anyone who provides a product or a service that uses AI. The Act will cover systems that can generate output such as content, predictions, recommendations, or decisions influencing environments.

Apart from uses of AI by companies, it will also look at AI used in public sector and law enforcement. It will work in tandem with other laws such as the General Data Protection Regulation (GDPR).

Those using AI systems which interact with humans, are used for surveillance purposes, or can be used to generate "deepfake" content face strong transparency obligations.

A number of AI tools may be considered high risk, such as those used in critical infrastructure, law enforcement, or education. They are one level below "unacceptable," and therefore are not banned outright.

Instead, those using high-risk AIs will likely be obliged to complete rigorous risk assessments, log their activities, and make data available to authorities to scrutinise. That would be likely to increase compliance costs for companies.

Many of the "high risk" categories where AI use will be strictly controlled would be areas such as law enforcement, migration, infrastructure, product safety and administration of justice.

A GPAIS (General Purpose AI System) is a category proposed by lawmakers to account for AI tools with more than one application, such as generative AI models like ChatGPT.

Lawmakers are currently debating whether all forms of GPAIS will be designated high risk, and what that would mean for technology companies looking to adopt AI into their products. The draft does not clarify what obligations AI system manufacturers would be subject to.

The proposals say those found in breach of the AI Act face fines of up to 30 million euros or 6% of global profits, whichever is higher.

For a company like Microsoft (MSFT.O), which is backing ChatGPT creator OpenAI, it could mean a fine of over $10 billion if found violating the rules.

While the industry expects the Act to be passed this year, there is no concrete deadline. The Act is being discussed by parliamentarians, and after they reach common ground, there will be a trilogue between representatives of the European Parliament, the Council of the European Union and the European Commission.

After the terms are finalised, there would be a grace period of around two years to allow affected parties to comply with the regulations.

Reporting by Martin Coulter and Supantha Mukherjee; Editing by Bernadette Baum

Our Standards: The Thomson Reuters Trust Principles.

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Explainer: What is the European Union AI Act? - Reuters

Chair of the ECB Supervisory Board Andrea Enria and Chairperson of the European Banking Authority (EBA) Jose Manuel Campa in the European Parliament on March 21, 2023.

Thierry Monasse | Getty Images News | Getty Images

U.S. regulators made mistakes in failing to prevent the collapse of Silicon Valley Bank and other financial institutions, according to lawmakers in the European Union who believe this is also a moment for some self-assessment in Europe.

Silvergate Capital, a bank focused on cryptocurrency, was the first to fall, saying March 8 that it would be ceasing operations. Shortly after, Silicon Valley Bank failed after a run on deposits. Signature Bank, which focused on lending to real estate firms, then saw deposit outflows leading regulators to seize the bank to prevent contagion across the sector.

Since then, First Republic Bank has also received support from other banks amid fears of a wider shock to the financial system. And in Switzerland, a non-member of the European Union, authorities had to rescue Credit Suisse by asking UBS to step in with an acquisition.

Meanwhile, regulators and officials across the European Union have been nervous about potential contagion to their own banking sector. After all, it's not been that long since European banks were in the depths of the global financial crisis.

"There is no direct read across of U.S. events to [the] euro area significant banks," Andrea Enria, chair of the European Central Bank's supervisory board, said Tuesday. Like him, an array of officials have made an effort to stress that the European banking system is in much better share compared to 2008.

The U.S. lacks some controls.

Paul Tang

Lawmaker in the European Parliament

This reinforces the view in the EU that the U.S. should learn from some of the regulatory works put in place in the euro area since the financial crisis.

"You need stronger regulation ... in that sense the U.S. lacks some controls," Paul Tang, a lawmaker and a member of the European Parliament's economic committee, told CNBC.

When asked if U.S. regulators made some mistakes, thus failing to prevent the recent banking turmoil, he said: "I definitely think so, you need to have scrutiny. That was the message from 2008."

In the heart of European policymaking, in Brussels, an official, who did not want to be named due to the politically sensitive nature of the topic, told CNBC that several meetings between EU officials in recent days "stressed the failures of regulation [in the U.S.] particularly when compared with the EU."

One of the key differences is that the U.S. has a more relaxed set of capital rules for smaller banks.

"The main difference is the Basel III requirements," Stphanie Yon-Courtin, a member of the European Parliament told CNBC. "These banking rules," she said, "apply to very few banks this is where the problem lays."

Basel III is a set of reforms that strengthens the supervision and risk management of banks and has been developed since 2008.

It applies to most European banks, but American lenders with a balance sheet below $250 billion do not have to follow them.

Despite some of the criticism toward American regulators, the EU recognizes this is not the time to be complacent. "We have to remain vigilant," Yon-Courtin said. "We have to be careful and ensure these rules are still fit for purpose," she added, pushing for a constant monitoring of the rulebook.

One of the main discussions in the EU in recent days has actually been the need to improve the European Banking Union a set of laws introduced in 2014 to make European banks more robust.

The debate has been politically sensitive, but the reality that high interest rates are here to stay has made it even more important.

"We are well aware that the ongoing fast pace normalization of monetary policy conditions is increasing our banks' exposure to interest rate risk," Enria, the chair of the ECB's supervisory board, said Tuesday.

The rest is here:
European lawmakers are quietly miffed at U.S. regulators over SVB's collapse - CNBC

Sviatlana Tsikhanouskayas political career began when her husband, Siarhei Tsikhanouski, was jailed after announcing plans to challenge Belarus President Aliaksandr Lukashenko in 2020. The political newcomer ran in her husbands place, and after Lukashenko was declared the winner in a contest widely viewed as fraudulent, mass protests broke out in Belarus for months.

Tsikhanouskaya, fearing for her safety, fled to Lithuania, where she leads the Belarusian opposition, which includes partisans who are working against the Russians in their attempt to take over Ukraine. Tsikhanouskayas group views their support of Ukraine as part of a larger pro-democracy battle pitting that nation and their own against Lukashenko and his ally, Russian leader Vladimir Putin, who seeks to reassert Moscows control in the region.

Tsikhanouskaya will be a keynote speaker at the John F. Kennedy Jr. Forum at the Institute of Politics on Friday and share the stage with European Parliament President Roberta Metsola. This event is part of the student-led European Conference at Harvard on Friday and Saturday and co-sponsored by the Minda de Gunzburg Center for European Studies, the Weatherhead Center for International Affairs, and the Davis Center for Russian and Eurasian Studies.

This interview was edited for length and clarity.

GAZETTE:What are some of the key issues and policy debates in Europe youre planning to speak about during your address at the Institute of Politics? How does Belarus play a role in Europes security?

TSIKHANOUSKAYA: The people of Belarus and the Ukrainians are facing the same enemy. Russia wants to return our countries to the sphere of Russian influence. We have always felt ourselves to be European, and we dont want to be connected with Russia. Russia now is synonymous with war and poverty, and Europe is democracy and peace, and we want the same for our country. We want to break the perception that Belarus is part of Russia or a post-Soviet Union country. While Lukashenko is in power with the help of violence and criminal support, he will always obey Putin and fulfill his orders, and there will be a constant threat to the security of the region.

GAZETTE:What measures can the European Union take to support the pro-democratic movement in Belarus?

TSIKHANOUSKAYA:Consistency is powerful. If the European Union doesnt recognize Lukashenko as president, it should not meet with representatives of the [Belarusian] regime. If it knows that Lukashenko is guilty of crimes against humanity and war crimes, then it should hold him accountable and start an investigation. The European Union can apply pressure on the regime through sanctions and political isolation. It can also support civil society. A huge number of people fighting the regime had to flee the country, and they need financial support. So do the families of political prisoners. We fully support the Ukrainians, but the war will not be over until Belarus is free too.

GAZETTE:What is your perspective on the United States foreign policy toward Russia, Ukraine, and Belarus?

TSIKHANOUSKAYA:[The United States] should unite in implementing measures against Lukashenko together with the European Union. Joint positions will be more effective. It should also support the Belarusian people and punish the regime. The U.S. needs to understand that Belarus and Ukraine are intertwined. Lukashenko is a full collaborator with Russia in the war in Ukraine.

I would also ask the American government to pay attention to the criminal occupation of Belarus because now we are seeing the presence of Russian troops in Belarus. We see how Russia is step by step occupying our cultural, economic, and military spheres, and we want to hear a clear message that any attempts to occupy Belarus will not be tolerated. There should be a wide range of personal sanctions placed on those serving the [Lukashenko] regime: work with democratic forces, NGOs, support cultural institutions, assist political prisoners, and offer scholarships to students.

Since 2020, there wasnt a day when I didnt feel fear. Im afraid for my husband and other political prisoners. I know how they are treated in prison. The fact that they sacrificed their freedom and chance to build a normal life is what makes me continue to fight.

GAZETTE:Do you still believe that the peaceful transition of power in Belarus is possible by limiting the number of presidential terms, as you have called for?

TSIKHANOUSKAYA:From the beginning we have believed that nonviolence can create change in our country because we know that peaceful change is more sustainable. When Belarusian anti-war regiments formed in Ukraine, we saw some cautiousness from our democratic partners. These regiments are defending Ukraine now, and there was some concern that one day they would come to Belarus and get rid of the regime through violent means. Where is the neat golden middle? In this battle to win peacefully we need to put the regime under constant stress.

We dont want any violence. Belarusian anti-war partisans committed nonviolent acts of sabotage when they damaged the railway lines in Belarus so that Russia could not deliver new forces, weapons, shells, equipment, and other military supplies to the front and disrupted the Russian offensive on Kyiv. The same goes for the recent explosion of a Russian aircraft at a Belarusian airfield, which provided guidance for missile strikes on Ukraine. These actions are nonviolent, because they did not harm the life and health of people. On the contrary, in both of these cases, equipment is damaged that can be used to kill many people in Ukraine.

GAZETTE:Does fear ever stop you or momentarily paralyze you? How do you keep moving forward as a wife, mother, and political leader?

TSIKHANOUSKAYA:Since 2020, there wasnt a day when I didnt feel fear. Im afraid for my husband and other political prisoners. I know how they are treated in prison. The fact that they sacrificed their freedom and chance to build a normal life is what makes me continue to fight. Sometimes I dont want to get out of bed, but then I think about my husband, who doesnt have the chance to say a word publicly and is humiliated physically and morally in prison. Then I tell myself to stand up and get to work.

When my husband is allowed to send a letter to our children, and my daughter, who is now 7 years old, is reading his words and crying, I understand that I dont have a choice. When a woman is faced with obstacles, she will show her internal power, and she should not underestimate herself.

My son is a child with special needs who was born with deafness. He underwent an operation as a toddler and had to receive daily therapy to learn to speak. I didnt know if there would ever be a full rehabilitation. I didnt see the light at the end of the tunnel, but I knew I had to work with him every day. Eventually, he was able to join his classmates at school.

Maybe that personal experience is helping to sustain me now. I dont know when the light at the end of the tunnel will appear for Belarusians either, but I do know that you have to find the strength in yourself to fight every day because you hope for a victory.

Our country doesnt belong to just one person who thinks that Belarus is his private backyard. This is our country, and we are responsible for its future. People in the diaspora have taken so many creative initiatives, like forming the Peoples Embassies of Belarus, and its really inspiring to realize youre not alone. You stand shoulder to shoulder with others.

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Exiled Belarus opposition leader calls for unified EU, U.S. support - Harvard Gazette

Pope Francis addresses EU bishops who have just elected Mariano Crociata as their new president, and invites them to continue to pursue the cause of peace.

By Linda Bordoni

Pope Francis addressed European Unions bishops and their new President, Archbishop Mariano Crociata, and asked them to never lose sight of the the two great dreams of Europes founding fathers: the dream of unity and the dream of peace.

Present for the audience on Thursday morning, were the Delegates of the Commission of the Bishops Conferences of the European Union (COMECE) who elected Crociata on Wednesday at the conclusion of their Spring Plenary Assembly. On the same occasion, four Vice-Presidents were also elected: Bishops Antoine Hrouard, Nuno Bras da Silva Martins, Rimantas Norvila and Czeslaw Kozon.

The Pope invited the EU bishops to continue keeping their eyes on a horizon defined by the inspiring values of the Europe project: unity and peace.

On the first point, the Holy Father said, it is clear that European unity cannot be a uniform, homogenising unity,but one that respects and values the singularities, the peculiarities of the peoples and cultures that make it up.

Recalling their different nationalities and cultures, he likened the richness of Europe to the convergence of different sources of thought and historical experience.

Like a river, it lives from its tributaries. If the tributaries are weakened or blocked, the whole river suffers and loses strength.

Europe, the Pope said, has a future if it is truly a union, not just a synthesis of countries with their respective characteristics.

The challenge, he added, is unity in diversity. And is possible if there is a strong inspiration that goes beyond a technocratic paradigm and is capable of enthusing people and attracting new generations in the building of a common project.

Reflecting on how much has changed since the founding of the European Union, the Pope said the Church has the responsibility to train people who, reading the signs of the times, know how to interpret the European project in today's history.

Regarding the dream of peace, the Pope said Today's history needs men and women animated by the dream of a united Europe in the service of peace.

He recalled how after WWII the continent experienced the longest period of peace in its history. He decried the many wars that followed in different parts of the world, some of them dragging on for years, until now one can now speak of a third world war.

The war in Ukraine is near, and has shaken European peace.

The Pope noted that neighbouring nations have done their utmost to welcome the refugees and upheld the fact that all European peoples participate in solidarity with the people of Ukraine.

This choral response on the level of charity should be matched - but it is clear that this is neither easy nor obvious - by a cohesive commitment to peace, he said.

Acknowledging the complexity of this that derives from the fact that the different countries of the European Union are involved in multiple alliances, interests, strategies, a range of forces that are difficult to bring together into a single project, the Pope said there is one principle should be shared by all with clarity and determination: war cannot and must no longer be considered as a solution to conflicts.

War cannot and must no longer be considered as a solution to conflicts.

If the countries of today's Europe do not share this ethical-political principle, then it means they have strayed from the original dream. If, on the other hand, they do share it, they must commit themselves to implementing it, with all the effort and complexity that the historical situation requires, he said.

War is a failure of politics and humanity.

Pope Francis concluded reminding those present of their responsibility to be a bridge between the Churches in Europe and the institutions of the Union.

You are by mission builders of relations, of encounter, of dialogue. And this is already working for peace. But it is not enough, he said.

It takes prophecy, it takes foresight, it takes creativity to advance the cause of peace. Both architects and craftsmen are needed in this building site; but I would say that the true builder of peace must be both architect and craftsman.

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Pope tells EU Bishops to advance the cause of peace - Vatican News

Press Release 2022

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