European Council Approves EU AI Act; Enforcement and Compliance Stages Outlined

The EU AI Act is a legislative act that has been given the final green light by the European Council to regulate artificial intelligence within the European Union. It outlines provisions that will take effect in stages, aiming to govern the use and development of AI systems.

The EU AI Act will be enforceable 2 years after it enters into force. The act will enter into force 20 days following its publication in the EU’s Official Journal, with provisions starting to take effect in stages.

Fines for non-compliance with the EU AI Act can be up to 35 million Euros or 7% of worldwide annual turnover, whichever is higher. These penalties underscore the importance of adhering to the regulations set forth in the act.

To prepare for EU AI Act compliance challenges, it is recommended to stay informed on the act's provisions and timelines. One way to do this is by subscribing to newsletters that provide weekly analyses on the EU AI Act, which can offer guidance and updates on compliance requirements.