On Wednesday, the European Union’s parliament granted approval for the world’s inaugural comprehensive set of regulatory guidelines aimed at overseeing the burgeoning field of artificial intelligence, which stands at the forefront of technological investments.

Having brokered a provisional political consensus in early December, the agreement received formal endorsement during the parliament’s Wednesday session, garnering 523 votes in favor, 46 against, and 49 abstentions.

Thierry Breton, the European commissioner for the internal market, asserted, “Europe has now established itself as a global standard-setter in AI,” in a statement on X.

Roberta Metsola, the president of the European Parliament, lauded the legislation as groundbreaking, emphasizing its role in fostering innovation while upholding fundamental rights, CNBC reported.

Metsola stated in a social media post, “Artificial intelligence is already deeply woven into our daily lives. Now, it will be entrenched in our legal framework as well.”

Reflecting on the achievement, Dragos Tudorache, the lawmaker overseeing EU negotiations on the agreement, celebrated the deal but underscored that the most significant challenge lies in the subsequent implementation phase.

Written by B.C. Begley