EU's New AI Act Risks Hindering Development and Public Good, Argue Experts
• New EU AI Act focuses on reducing risks of AI without considering public benefits, which could hinder development while failing to protect the public
• Act tailors regulations to different levels of presumed AI risk
• Does not require assessment of societal impacts, including potential benefits
• Lacks mechanisms for meaningful public participation in AI governance
• Authors argue public value assessments should be incorporated to balance risk reduction against public good