A PYMNTS Company

Germany Set to Approve EU’s Groundbreaking AI Act Following Compromise

By  |  January 30, 2024

Germany is set to approve the European Union’s groundbreaking AI Act following successful negotiations, announced by the minister responsible for digital issues, Volker Wissing. The Act, which establishes a regulatory framework for the development of artificial intelligence (AI), had already received provisional approval from the European Union in December. However, final approval required consensus from member states and the European Parliament.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Wissing, the German Digital Minister from the pro-business Free Democrats, a party known for advocating civil liberties, stated, “Without the use of artificial intelligence, there will be no competitiveness in the future.” He emphasized the significance of AI in ensuring the region’s global standing and economic strength.

    We’d love to be your preferred source for news.

    Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

    Add as Preferred Source

    The minister revealed that the prolonged debates and disagreements over Germany’s position on the AI Act had finally come to an end, with an acceptable compromise being reached. Wissing, who had been pushing for more innovation-friendly regulations, claimed to have secured improvements for small and medium-sized businesses, aiming to alleviate disproportionate requirements on them. However, specific details regarding these improvements were not disclosed.

    Related: Meta & OpenAI CEOs Back EU AI Regulations

    “The negotiated compromise lays the foundations for the development of trustworthy AI,” Wissing asserted, underlining the importance of creating a framework that fosters responsible and reliable AI technologies. The compromise aligns with the broader EU goal of establishing guidelines that balance innovation and ethical considerations in the rapidly evolving field of artificial intelligence.

    Earlier reports from Reuters indicated that the Free Democrats, as junior partners in the Social Democrat-led coalition with the Greens, had initially raised objections but ultimately dropped their reservations. This move paves the way for Germany to join other EU member states in endorsing the AI Act, contributing to a unified approach in regulating AI development and deployment across the region.

    As the EU takes a step closer to implementing comprehensive AI regulations, the approved AI Act is expected to shape the future of technology development, ensuring a responsible and competitive environment for innovation in artificial intelligence.

    Source: Reuters