(Generative) Artificial Intelligence in the Third Decade of the 21st Century and Beyond – Selected European Legal, Regulatory and Supervisory Aspects with a Particular View on Companies in Financial Markets - European Business Law Review View (Generative) Artificial Intelligence in the Third Decade of the 21st Century and Beyond – Selected European Legal, Regulatory and Supervisory Aspects with a Particular View on Companies in Financial Markets by - European Business Law Review (Generative) Artificial Intelligence in the Third Decade of the 21st Century and Beyond – Selected European Legal, Regulatory and Supervisory Aspects with a Particular View on Companies in Financial Markets 36 2

The profoundly transformative (current and potential future) effects of (generative) AI particularly on individuals, societies, states and economies might not be overstated. The law in the realm of AI accordingly further develops rapidly. At European Union (EU) level, the Artificial Intelligence Act (AI Act) is of utmost importance, here. This paper analyses aspects of the EU legal, regulatory and supervisory approach to the currently most advanced and challenging AI: general-purpose Artificial Intelligence (AI) models and general-purpose AI systems. Focus is particularly on how the EU regime for AI responds to the wide spectrum of risks linked to (generative) AI with a sector-specific emphasis on financial markets.

 

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