The European Union has taken significant steps towards shaping AI's development for the continent. The EU AI Act, often discussed in tech circles and political arenas alike, is aimed at establishing a comprehensive regulatory framework for Artificial Intelligence. This prospective legislation is designed to manage risks, protect citizen rights, and encourage innovation and trust in AI technologies.

The AI Act classifies AI systems according to the risk they pose to safety and fundamental rights. The highest-risk categories include AI applications involved in critical infrastructures, employment, essential private and public services, law enforcement, migration, and administration of justice. These AI systems will face strict obligations before they can be marketed or used within the European Union.

For instance, critical AI applications will need to undergo a conformity assessment to demonstrate their safety, the accuracy of high-risk databases must be ensured, and extensive documentation and transparency measures should be available to maintain a high level that allows for effective oversight. The AI Act also proposes bans on certain uses of AI that pose unacceptable risks, such as exploiting vulnerabilities of specific groups of people that could lead to material or moral harm or deploying subliminal techniques.

This act prominently addresses the public concern over facial recognition and biometric surveillance by law enforcement. It suggests that real-time remote biometric identification in publicly accessible spaces for law enforcement should be prohibited in principle with certain well-defined exceptions which are subject to strict oversight.

Beyond the protective measures, the European Union's AI Act is also focused on promoting innovation. It provides for the establishment of AI regulatory sandboxes to enable a safer environment for developing and testing novel AI technologies. These sandboxes allow developers to trial new products under the watchful eye of regulators, while still adhering to safety protocols and without the usual full spectrum of regulatory requirements.

Regarding the concerns about the energy consumption of AI technology, especially within AI data centres, it opens yet another critical discussion on sustainability. The extensive energy requirement for training sophisticated machine learning models and running large-scale AI operations has put the spotlight on the need for sustainable AI practices. This issue is somewhat peripheral in the current AI Act discussions but remains intrinsically linked as the European Union moves towards greener policies and practices across all sectors.

As the AI Act moves through the legislative process, with discussions and negotiations that modify its scope and depth, the technology sector and broader society are keenly watching for its final form and implications. The balanced approach the European Union aims to achieve—fostering innovation while ensuring safety and upholding ethical standards—could very well serve as a model for global AI governance. However, successful implementation will be key to realising these ambitions, requiring collaborative efforts between governments, tech companies, and the society at large.

As Europe treads this path, the future of AI in the region looks poised for a structured yet innovative landscape that could potentially set a global benchmark in AI regulation.