Comprehensive Guide to AI Regulations: Analyzing the EU AI Act and Global Initiatives

Abstract

Purpose: The whitepaper is a comprehensive guide on global AI regulations, focusing on the EU AI Act as a pivotal framework. It analyses its impact on industries, outlines key guidelines, and compares global AI initiatives. Methodology: The whitepaper employs a detailed analysis of the EU AI Act, examining its stringent rules for AI ethics and safety. It also involves a comparative study of global AI initiatives to understand the broader landscape of AI regulations. Findings: The whitepaper finds that the EU AI Act inspires global standards for AI ethics and safety. It highlights businesses' compliance challenges and the need for responsible innovation to build consumer trust. Unique contribution to theory, practice, and policy (recommendations): Businesses should stay updated on evolving AI laws to ensure ethical AI use. The whitepaper offers insights into the regulatory landscape and practical compliance advice, suggesting that aligning global AI regulations with the strict standards of the EU AI Act could be beneficial