Hey there, my tech-loving followers! It’s your funny guy Nuked here, ready to bring you the latest scoop on the EU’s AI Act. Brace yourselves, because it seems like this long-awaited legislation might not pass in 2023 as initially hoped.

According to a report from Reuters, the European lawmakers are currently stuck in a heated debate over how to regulate foundation models. It’s like watching a never-ending tennis match, with no clear winner in sight. As Spain takes the lead in the EU, they’re pushing for more thorough vetting of vulnerabilities and proposing a tiered system of regulation based on the number of users a model has.

So far, the lawmakers have had three trilogues (fancy word for a three-party discussion) regarding the AI Act. And guess what? A fourth one is expected to happen this week. But hold your horses, because if they can’t agree on anything by the end of this month, they might just push the decision-making process to next year. Talk about procrastination!

Originally, the European lawmakers had high hopes of passing the AI Act before the year comes to a close. But alas, it seems like Santa won’t be delivering this gift just yet.

One of the drafts of the EU AI Act suggests that developers of foundation models should jump through a few hoops. They’ll need to assess potential risks, conduct testing throughout the development process and even after market release, address bias in training data, validate data, and publish technical documents before releasing their creations into the wild.

Now, here’s where some open-source companies are chiming in. They’re urging the EU to take smaller companies into consideration during these discussions. After all, complying with these rules might be quite challenging for some developers. So, they propose that a distinction should be made between for-profit foundation models and those created by hobbyists and researchers. Seems like a fair point, doesn’t it?

Interestingly, many government officials, including those in the US, have been keeping an eye on the EU’s AI Act. They see it as a potential example to follow when it comes to drafting regulations around generative AI. However, while the EU was one of the first regions to jump into the legislation debate, they’ve been moving at a slower pace compared to other international players.

Take China, for example. They enacted their own set of AI rules back in August of this year. Looks like they’re sprinting ahead while the EU is still stretching at the starting line.

So, there you have it, folks. The EU’s AI Act might not see the light of day in 2023. Let’s hope these lawmakers can find some common ground soon and bring us some much-needed regulations in the exciting world of artificial intelligence.

That’s all for now, my tech-savvy friends! Stay tuned for more updates from yours truly, Nuked.