The EU AI Act, proposed by the European Commission in 2021, will have a major impact on the development and use of artificial intelligence within the European Union. The Act stipulates that providers of AI systems established in the EU must comply with the regulation, as well as entities in third countries that introduce AI systems to the EU market.

In July 2023, the spotlight turned to Madrid as Spain took over the Presidency of the Council of the EU. The Spanish Presidency has in particular focused on advancing the negotiations on the AI Act, while addressing complex ethical, legal, and societal considerations, alongside ensuring the promotion of a framework that cultivates trust and facilitates the responsible and human-centred development and use of AI technologies in Europe. The three-way negotiations between Council of the EU, European Parliament and European Commission to finalise the AI Act are now at an advanced stage, and the aim is to reach an agreement before the end of 2023.

In parallel with the EU’s regulatory advances, a wide array of international initiatives is in the making. G7 leaders agreed to establish the Hiroshima AI Process in May, calling for creating international guidelines that will also address the use of generative AI, by the end of 2023. In the meantime, Council of Europe is also negotiating a convention on AI and human rights, democracy and the rule of law, due to be finalised in early 2024. Such initiatives will play a key role until the AI Act starts fully applying sometime in 2026, following what is expected to be a two-year implementation period.

While there seems to be a global consensus on the need for regulating AI, there is no agreement yet on how to go about it. For different AI regulations to be most effective, it will be crucial to ensure the multitude of initiatives lead to approaches that align with each other.

Listen this Euractiv Hybrid Conference to discuss the AI Act and the potential of cross-continental cooperation in fostering global AI governance.

 Questions to be discussed include:

- How has the Spanish Presidency fostered AI regulation dialogue with international partners to promote responsible AI use?
- How can cross-continental cooperation enhance AI governance? What are the opportunities for such collaboration?
- How can global initiatives for regulating AI complement the AI Act, and vice versa?
- Where are we seeing commonalities among AI policy frameworks? What are the core tenants for AI governance that should be replicated amongst all initiatives on AI?
- What are the implications of strict regulation of AI on Europe’s global competitiveness?