EU might delay AI regulation due to lacking standards

The European Commission is considering delaying parts of the EU's AI regulation, agreed upon in late 2023, due to a lack of readiness in technical standards. Executive Vice President Henna Virkkunen stated that postponing some aspects of the AI Act is possible if standards and guidelines aren't ready on time, as companies await crucial technical documentation. The AI Act aims to ban certain AI applications and enforce transparency and safety requirements. Several EU ministers have signaled support for a delay, with companies expected to comply with new obligations starting August 2nd. The delay is being considered because key implementation tools, like a code of conduct, are still under development.