Gerar Mazarakis is an associate in the Washington, D.C. office and a member of Troutman Pepper’s Intellectual Property practice and the Cybersecurity, Information Governance + Privacy group. He focuses his intellectual property practice primarily on patent litigation before the U.S. International Trade Commission (ITC) and in U.S. federal courts, including the Western District of Texas, the District of Delaware, and the Court of Federal Claims. Gerar represents innovators in a wide range of technologies including augmented reality, medical devices, telecommunications, and automotive.
High-stakes artificial intelligence (AI) is becoming even higher risk in the European Union, where AI regulation efforts are underway that could cost your company up to 6% of its total worldwide revenues—more than the potential penalties for privacy violations under the EU’s General Data Protection Regulation (GDPR). On April 21, 2021, the European Commission proposed rules for regulating AI (the “AI Act” or “Act”), to which the European Parliament recently released proposed amendments on April 20, 2022. The Act may undergo a series of additional amendments, but a final text is nearing completion and European countries are starting to act in anticipation of the regulation. Companies should plan for the comprehensive act to become law and begin implementing best practices now to ensure a competitive advantage. Below is an overview of the AI Act’s key provisions that takes into account the Parliament’s recent changes.