EU Restricts AI development, banning APIs, potential 20 million dollar fines, and more

People of r/artificial subreddit! I have just caught wind of huge restrictions planned to be imposed in Europe when it comes to developing LLMs here, the document is named the “[Proposal for a regulation of the European Parliament and of the Council on harmonised rules on Artificial Intelligence](https://www.europarl.europa.eu/meetdocs/2014_2019/plmrep/COMMITTEES/CJ40/DV/2023/05-11/ConsolidatedCA_IMCOLIBE_AI_ACT_EN.pdf)”. This so-called AI Act was released on May 9th but I haven't seen it covered on this subreddit. If you are developing any projects, like me, involving AI or using any sort …

act api artificial ban companies development github investigation lora open source restrictions testing training