The European Parliament is finalising the text of the proposed AI Act ahead of a key committee vote on 11 May 2023 The AI Act is a landmark EU legislative proposal aimed at regulating artificial intelligence based on its potential to cause harm. The lawmakers have worked on a fine-tuned version of the compromise amendments, reflecting a broader political agreement reached at the end of April but also including last-minute changes and important details on how the deal has been operationalised.

The Act imposes a stricter regime for so-called foundation models, powerful AI systems that can power other AI applications and requires for generative foundation models to ensure more transparency on their models. The fines for foundation model providers breaching the AI rules has been set up to