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Welcome to episode #129 of Eye on AI with Alexandra Geese.\\xa0Navigating the complex waters of the European Union\\u2019s AI Act is no simple task. Yet, that\\u2019s exactly what Alexandra Geese, a member of the European Parliament, and I venture to do in this conversation. Alexandra\\u2019s insights into the AI Act, its four defined categories of AI applications, and its current negotiation phase with the European Council and the European Commission are illuminating. We delve into the Act\\u2019s essential mission: ensuring AI serves humanity, while also exploring the influence of powerful players in the AI industry on the EU\\u2019s legislation.

As our journey deepens, we tackle a range of crucial issues underpinning the Act. Alexandra and navigate through potential economic implications for those who rely on copyright legislation, and the risk of Europe falling behind in AI implementation if the Act is too restrictive.

We also touch on the involvement of major American AI firms in the Act\\u2019s finalization process, and implications for copyrighted material.

We dive into the ongoing debates shaping the legislation and the enforcement of the law, once passed. Alexandra shares her thoughts on potential fines for violations, different AI zones, and the possibility of the US following Europe\\u2019s lead in AI legislation. We wrap up with a deep reflection on the environmental impact of AI, the power held by few companies, and our collective responsibility as AI reshapes the world.

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(00:00) Preview

(00:52) Introduction \\xa0

(03:10) Alexandra Geese background in digital legislation

(04:00) The AI act: the explanation and details \\xa0

(08:00) The foundations of corporations for AI regulation

(13:00) Copyright regulation and impacts of creativity\\xa0 \\xa0

(17:00) We need AI that serves humanity \\xa0

(21:30) Are foundation models high risk to society? \\xa0

(25:00) Should people be worried about investing in AI?

(30:45) What is dynamic AI regulation?

(36:10) What is the timeline for AI regulation?\\xa0

(38:50) What penalties will be applied to AI regulation?

(44:30) Will US & EU merge on AI regulation?

(50:30) How to solve AI hallucinations \\xa0

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Craig Smith Twitter: https://twitter.com/craigss

Eye on A.I. Twitter: https://twitter.com/EyeOn_AI

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Found is a show about founders and company-building that features the change-makers and innovators who are actually doing the work. Each week, TechCrunch Plus reporters, Becca Szkutak and Dom-Madori Davis talk with a founder about what it\\u2019s really like to build and run a company\\u2014from ideation to launch. They talk to founders across many industries and their conversations often lead back to AI as many startups start to implement AI into what they do. New episodes of Found are published every Tuesday and you can find them wherever you listen to podcasts.

Found podcast: https://podlink.com/found