The European Union has approved regulations for artificial intelligence, addressing concerns about potential risks to humanity. The AI Act regulates various AI technologies based on their potential risks and level of impact. Systems used in critical infrastructure or medical devices will face more regulations, and some AI applications will be banned outright. Biometric identification systems can only be used under specific circumstances. The AI Act is expected to become law in May and will be in full effect by mid-2026. The maximum fine for violations is $38 million or up to 7% of a company’s global revenue. The EU's move follows increasing calls for AI regulations from tech executives. President Joe Biden has also signed an executive order on AI in the US, outlining sweeping actions to address potential risks of AI.