The EU act creates different thresholds of reporting and transparency requirements for companies deploying different types of AI systems. In Canada, we have reporting and transparency requirements for only a specific class of systems. It means we're more exclusionary. The EU includes more systems within its scope. It also has a list of unacceptable risks and systems that should be prohibited if they pose unacceptable risks. This makes stronger regulation and protects people against harm.
On February 14th, 2024. See this statement in context.