The European Commission started drafting the AI Act about two years ago to regulate emerging artificial intelligence (AI) technology like AltSignals’s ActualizeAI, which has seen a boom in investment and popularity following the launch of OpenAI’s AI-powered chatbot ChatGPT.
After finishing drafting the act, members of the European Parliament have agreed to push the draft through to the next stage, the trilogue, where EU lawmakers and member states fine-tune the draft into the bill.
What the new EU AI act stipulates
Under the proposed act, AI tools will be classified according to their perceived risk level: from minimal to limited, high, and unacceptable. The classification will depend on things like biometric surveillance, spreading misinformation or discriminatory language.
The high-risk AI tools will not be banned but those using them will be required to be highly transparent in their operations.
The companies behind the generative AI tools like ChatGPT and image generator Midjourney will also be required to disclose any copyrighted material used in developing the systems. This provision was a late addition and some members of the EU commission had initially proposed completely banning copyrighted material in training generative AI models.
A European Parliament deputy, Svenja Hahn, commenting on the copyrighted material said:
“Against conservative wishes for more surveillance and leftist fantasies of over-regulation, parliament found a solid compromise that would regulate AI proportionately, protect citizens’ rights, as well as foster innovation and boost the economy.”
What is AltSignals?
AltSignals has been a market leader in providing trading signals and developing algorithm-based technical indicators to assist financial markets traders profit from price movements. It started by sending free crypto trading signals but later expanded to Forex, CFDs and shares.
AltSignals provides fundamental and technical analysis and coaches and helps clients with placing trades and profit from the trades. The platform has been generating trading signals using a technical indicator called AltAlgo Indicator.
The AltAlgo indicator scans the financial markets and alerts the AltSignals users that the conditions are right to place trades. The indicator currently uses multiple trading strategies and technical indicators to identify trading opportunities.
Altsignals is now working on an AI-based algorithm to make the signals-generating process more efficient. The AI algorithm will take the best-performing algorithm including the AltAlgo indicator and use that to build a suite of AI products one of them being the ActualizeAI powered by the ASI cryptocurrency, whose presale is currently ongoing.
Besides being an AI-based cryptocurrency, the ASI cryptocurrency operates on the Ethereum blockchain, which allows for low-cost token purchases through the AltSignals DEX during the ongoing presale.
What does the new AI Act mean for AltSignals?
The new proposed AI Act will definitely affect how AltSignals operate in Europe since it is currently working on an AI-based algorithm to make its signals-generating process more efficient.
To start with the AltSignals’ ActualizeAI AI algorithm powered by the ASI cryptocurrency, will have to go through the classification process if it is to operate in the EU. Additionally, it will have to disclose any copyrighted material if any.
However, all these are for the benefit of the AI tools users and it will only increase confidence in tools like AltSignals.
Is AltSignals’ ASI token a good investment after the proposed EU AI Act news?
Well, investing in a crypto project has its risks especially since cryptocurrencies are extremely volatile. It is further complicated when a project is new and an investor has to do his/her due diligence to find out whether it is a scam or a legit project.
That said, AltSignals can be classified as a legit project seeing that it has been in operation since 2017 with the only new element being the AI-based algorithm and AI-based cryptocurrency.
In addition to the fact that AltSignals ticks the legit checkbox is that the price of the ASI token has been steadily increasing through the presale stages. The presale is currently in Stage 1 after the BETA stage successfully sold out. So far, the ASI token has gained by 25% from $0.012 to the current presale price of $0.015.
At press time Stage 1 of the presale was 61.08% sold out. One can participate in the presale here.
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