The European Commission has proposed the Artificial Intelligence Act (AI Act), after two years of public consultations. The Act lays ‘down a uniform legal framework across EU for the development, marketing and use of AI in conformity with EU values.’ These ‘values’ are indicated by ‘democracy’, ‘freedom’, and ‘equality’. The Act uses a ‘risk-based’ regulatory approach to all AI systems providers in the EU ‘irrespective of whether they are established within the Union or in a third country.’ It prohibits certain kinds of AI, places higher regulatory scrutiny on ‘High Risk AI’, and limits the use of certain kinds of surveillance technologies, among other objectives. To implement the regulations, the Act establishes the formation of a Union-level ‘European Artificial Intelligence Board’. The Individual Member States are to direct ‘one or more national competent authorities’ to implement the Act. The Act was introduced amid growing recognition of the usefulness of AI. For example, investing in AI and promoting its use can provide businesses with ‘competitive advantages’ that support ‘socially and environmentally beneficial outcomes’. However, it also appears cognizant of the many risks associated with AI, which can harm protected fundamental rights as well as the public interest. The Act states that it is an attempt to strike a “proportionate” balance between supporting AI innovation and economic and technological growth, and protecting the rights and interests of EU citizens. Ultimately, the legislation aims to establish a ‘legal framework for trustworthy AI’ in Europe that helps instil consumer confidence in the technology. According to commentators at MIT Technology Review, the Act, if passed, could once again shape the contours of global technology regulation in line with the European Union’s General Data Protection Regulation (GDPR), which is already an inspiration for data protection laws in multiple countries. The AI Act explicitly seeks to replicate harmonious regulatory approaches that may be useful to other countries as they negotiate their IT legislation.