EU lawmakers ratify political deal on artificial intelligence rules

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Two key groups of lawmakers at the European Parliament on Tuesday ratified a provisional agreement on landmark artificial intelligence rules ahead of a vote by the legislative assembly in April that will pave the way for the worldโ€™s first legislation on the technology.

Called the AI Act, the new rules aim to set the guardrails for a technology used in a broad swathe of industries, ranging from banking to cars to electronic products and airlines, as well as for security and police purposes.

The rules will also regulate foundation models or generative AI like the one built by Microsoft-backed OpenAI, which are AI systems trained on large sets of data, with the ability to learn from new data to perform various tasks.