EU Moves Forward With AI Act Despite US Pushback

by THEFUTURE.TEAM

February 4, 2025

Brussels is pressing ahead with the enforcement of its landmark AI Act, which includes new guidance on prohibited AI practices, despite threats from former US President Donald Trump regarding the regulation of American tech companies.

The AI Act is seen as the world’s most comprehensive AI regulation. On Sunday, the European Union began enforcing provisions that ban certain practices, including the creation of facial recognition databases through internet scraping. New guidance on how these rules should be applied will be released by the European Commission on Tuesday, with further provisions targeting high-risk AI applications, such as those in healthcare, to be rolled out by 2027.

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The EU’s push for enforcement comes as US-based tech companies, supported by Trump’s administration, express concerns over the regulation. Trump has warned that the EU’s treatment of American firms could result in retaliation, particularly regarding fines imposed on companies like Meta and Google. Trump’s administration has also signaled a shift in the US stance on AI regulation, promoting a less restrictive approach, including the announcement of a $500 billion AI infrastructure project backed by SoftBank and OpenAI.

Despite this pushback, the European Commission is steadfast in its commitment to enforcing the AI Act. The law requires companies developing high-risk AI systems to be more transparent about their processes and undergo risk assessments. Non-compliance could lead to hefty fines or even a ban from the EU market.

Big Tech has raised concerns that the EU’s transparency requirements could stifle innovation, particularly rules allowing third-party inspections of AI models for risk assessments. Meta has been vocal about the “onerous” nature of these provisions. However, Brussels continues to assert its position as the global leader in trustworthy AI, even as it navigates increasing opposition from the tech sector.

Caterina Rodelli, an EU policy analyst at Access Now, suggests that the approach to implementing the AI Act could shift under the new US administration. “There’s a risk that regulators could relax the rules, potentially undermining their effectiveness,” she noted.

While the EU’s recent bans have been clear, much is still to be determined in negotiations over the Code of Practice for general-purpose AI, which will affect major AI models such as Google’s Gemini and OpenAI’s GPT-4. These discussions, which involve hundreds of stakeholders, are set to conclude in April.

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Cyprus Income Distribution 2024: An In-Depth Breakdown of Economic Classes

by THEFUTURE.TEAM

December 24, 2025

New findings from the Cyprus Statistical Service offer a comprehensive analysis of the nation’s income stratification in 2024. The report, titled Population By Income Class, provides critical insights into the proportions of the population that fall within the middle, upper, and lower income brackets, as well as those at risk of poverty.

Income Distribution Overview

The data for 2024 show that 64.6% of the population falls within the middle income class – a modest increase from 63% in 2011. However, it is noteworthy that the range for this class begins at a comparatively low threshold of €15,501. Meanwhile, 27.8% of the population continues to reside in the lower income bracket (a figure largely unchanged from 27.7% in 2011), with nearly 14.6% of these individuals identified as at risk of poverty. The upper income class accounted for 7.6% of the population, a slight decline from 9.1% in 2011.

Income Brackets And Their Thresholds

According to the report, the median equivalent disposable national income reached €20,666 in 2024. The upper limit of the lower income class was established at €15,500, and the threshold for poverty risk was set at €12,400. The middle income category spans from €15,501 to €41,332, while any household earning over €41,333 is classified in the upper income class. The median equivalents for each group were reported at €12,271 for the lower, €23,517 for the middle, and €51,316 for the upper income classes.

Methodological Insights And Comparative Findings

Employing the methodology recommended by the Organisation for Economic Co-operation and Development (OECD), the report defines the middle income class as households earning between 75% and 200% of the national median income. In contrast, incomes exceeding 200% of the median classify households as upper income, while those earning below 75% fall into the lower income category.

Detailed Findings Across Income Segments

Upper Income Class: Comprising 73,055 individuals (7.6% of the population), this group had a median equivalent disposable income of €51,136. Notably, the share of individuals in this category has contracted since 2011.
Upper Middle Income Segment: This subgroup includes 112,694 people (11.7% of the population) with a median income of €34,961. Combined with the upper income class, they represent 185,749 individuals.
Middle Income Group: Encompassing 30.3% of the population (approximately 294,624 individuals), this segment reports a median disposable income of €24,975.
Lower Middle And Lower Income Classes: The lower middle income category includes 22.2% of the population (211,768 individuals) with a median income of €17,800, while the lower income class accounts for 27.8% (267,557 individuals) with a median income of €12,271.

Payment Behaviors And Economic Implications

The report also examines how income levels influence repayment behavior for primary residence loans or rental payments. Historically, households in the lower income class have experienced the greatest delays. In 2024, 27.0% of those in the lower income bracket were late on payments—a significant improvement from 34.6% in 2011. For the middle income class, late payments were observed in 9.9% of cases, down from 21.4% in 2011. Among the upper income class, only 3% experienced delays, compared to 9.9% previously.

This detailed analysis underscores shifts in income distribution and repayment behavior across Cyprus, reflecting broader economic trends that are critical for policymakers and investors to consider as they navigate the evolving financial landscape.

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