Ethics By Design: Steps To Prepare For AI Rules Changes; Forbes, October 21, 2021

Ursula Morgenstern, Forbes; Ethics By Design: Steps To Prepare For AI Rules Changes

"Ethics by design is a different way of thinking for companies. In addition to considering profit-driven outcomes, companies will now need to assess the harm and impact of their practices and provide oversight to manage AI’s risks. 

The AI Act sets the stage for change. Proposed in April, the legislation aims at mitigating the harmful use of AI. It facilitates the transparent, ethical use of AI — and keeps machine intelligence under human control. The regulations would outlaw four AI technologies that cause physical and psychological harm: social scoring, dark-pattern AI, manipulation and real-time biometric identification systems. 

Equally important to companies are the act’s proposed penalties. Fines for noncompliance are significantly higher than those for the EU’s General Data Protection Regulation (GDPR), ranging up to 30 million Euros, or 6% of annual revenue. In contrast, the GDPR imposesfines of up to 20 million Euros or 4% of revenue."