30-second summary:
European Union is working to become the first comprehensive artificial intelligence regulator in the world, but the generative AI boom has made it challenging. The EU is facing pressure to keep up with countries like the US and China in AI development, but they are also committed to ensuring ethical and responsible AI use. The EU’s approach involves balancing innovation with regulation, fostering a competitive market, and prioritizing human-centric AI. They are aiming to create a framework that promotes trust and offers clarity for businesses, while also protecting individuals and society from potential AI risks.
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