Seems to EU is determined to cripple their AI industry at all costs, we already have so little technology companies...<p>Foundation models are labelled as 'high risk'!<p>In my opinion this is way too premature... this would cripple open source AI as well...<p>> While the act includes open source exceptions for traditional machine learning models, it expressly forbids safe-harbor provisions for open source generative systems.<p>>Any model made available in the EU, without first passing extensive, and expensive, licensing, would subject companies to massive fines of the greater of €20,000,000 or 4% of worldwide revenue. Opensource developers, and hosting services such as GitHub – as importers – would be liable for making unlicensed models available.<p>>Open Source LLMs Not Exempt: Open source foundational models are not exempt from the act. The programmers and distributors of the software have legal liability. For other forms of open source AI software, liability shifts to the group employing the software or bringing it to market. (pg 70).<p>Source: <a href="https://technomancers.ai/eu-ai-act-to-target-us-open-source-software/" rel="nofollow noreferrer">https://technomancers.ai/eu-ai-act-to-target-us-open-source-...</a><p>While i'm usually pro-EU they are really overreacting here and the consequences for our economy of crippling a technology with so much potential will be enormous in the long run.