Two key groups of lawmakers in the European Parliament ratified a provisional agreement on landmark artificial intelligence (AI) rules, paving the way for the world's first legislation on the technology. The AI Act, aiming to set guardrails for AI applications across various industries including banking, automotive, and security, was endorsed ahead of a vote scheduled for April. These rules will regulate foundation models or generative AI systems, such as those developed by Microsoft-backed OpenAI, which learn from large datasets to perform tasks Source: Oman News Agency