Today, we're joined by Peter van der Putten, director of the AI Lab at Pega and assistant professor of AI at Leiden University. We discuss the newly adopted European AI Act and the challenges of applying academic fairness metrics in real-world AI applications. We dig into the key ethical principles behind the Act, its broad definition of AI, and how it categorizes various AI risks. We also discuss the practical challenges of implementing fairness and bias metrics in real-world scenarios, and the importance of a risk-based approach in regulating AI systems. Finally, we cover how the EU AI Act might influence global practices, similar to the GDPR's effect on data privacy, and explore strategies for closing bias gaps in real-world automated decision-making. The complete show notes for this episode can be found at https://twimlai.com/go/699.