Over a hundred companies, including tech giants Microsoft, Google, and Vodafone, have signed up for the European Union’s new Artificial Intelligence Pact. The voluntary pact outlines three core actions that the signatories commit to.
Firstly, the companies pledge to adopt a governance strategy that encourages the deployment of AI within their organizations and works towards future compliance with the forthcoming AI Act. This act is set to be introduced in 2026 and will establish the largest legal framework for AI in the world.
Secondly, the signatories agree to identify and map AI systems that are likely to be classified as high-risk under the AI Act. These systems, which have a significant impact on people’s lives, include critical infrastructure, employment services, and law enforcement. This step serves as a temporary measure until the AI Act comes into effect.
Lastly, the pact emphasizes the commitment to promote AI literacy and awareness among staff members to ensure responsible and ethical development.
It is worth noting that Meta, formerly known as Facebook, is missing from the list of signatories. However, the company has expressed openness to future discussions regarding the pact.
Although the pact is not legally binding, it serves as a precursor to the AI Act, which will impose compliance requirements on AI platforms. Failure to comply with the act could result in fines of up to 7% of global turnover for companies. Systems identified as high-risk will be subject to strict requirements, including activity logging, cybersecurity measures, and risk-mitigation systems.
The EU has been actively introducing new legislation to regulate big tech companies. The Digital Service Act and the Digital Market Act aim to curb the powers of tech firms and introduce stricter privacy regulations. The EU has demonstrated its willingness to enforce regulations by imposing significant penalties on non-compliant organizations. For instance, Apple chose not to roll out certain AI features in the EU due to regulatory uncertainties.