ALEXANDRIA, Va.—The European Parliament has approved the EU AI Act, which is the first formal regulation of AI in the West, reports CNBC. The regulation has more to go through before it’s law, but it’s likely to be one of the first formal rules for the technology globally.

The act aims to place bigger restrictions on generative AI tools, such as ChatGPT. Developers for these AI tools will need to submit their systems for review before releasing them commercially. The Parliament also decided to continue with a ban on real-time biometric identification systems, as well as controversial “social scoring” systems.

Jens-Henrik Jeppesen, senior director of public policy at Workday, told CNBC the AI Act aims to “build safeguards on the development and use of these technologies to ensure we have an innovation-friendly environment for these technologies such that society can benefit from them.”

Software company GitHub CEO Thomas Dohmke called on European regulators to listen to the private sector as it pushed ahead with rules for AI.

“We encourage the European Union and the U.S. government to move really fast and listen to those that built the technology—not only in the commercial business but also in universities—in the open-source communities,” Dohmke told CNBC.

Earlier this week, U.K. Prime Minister Rishi Sunak pitched that the U.K. should be the “geographical home” of AI safety regulation. The country is also hosting a global summit on AI safety later this year.