Set to take effect in stages starting summer 2024, the AI Act is poised to become the world’s first comprehensive AI law. It aims to govern the use and impact of AI technologies across the EU, affecting a broad range of stakeholders including AI providers, deployers, importers, and distributors.
🔹𝐊𝐞𝐲 𝐏𝐫𝐨𝐯𝐢𝐬𝐢𝐨𝐧𝐬 & 𝐈𝐦𝐩𝐚𝐜𝐭: The Act categorizes AI systems into prohibited, high-risk, and general-purpose models, each with specific compliance requirements. Notably, high-risk AI systems face stringent obligations, impacting sectors from employment to public services. The Act also introduces bans on certain AI practices deemed harmful, like emotion recognition in workplaces or untargeted image scraping for facial recognition.
🔹𝐂𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 & 𝐏𝐞𝐧𝐚𝐥𝐭𝐢𝐞𝐬: Compliance will vary by the nature of AI usage with penalties for non-compliance reaching up to €35 million or 7% of annual worldwide turnover. The AI Act also incorporates and aligns with existing EU regulations like GDPR, requiring businesses to assess both new and existing legal frameworks.
🔹𝐓𝐢𝐦𝐞𝐥𝐢𝐧𝐞 𝐟𝐨𝐫 𝐈𝐦𝐩𝐥𝐞𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧: The AI Act will phase in its provisions, with most obligations impacting businesses after a two-year period post-law enactment.
🔹𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐂𝐨𝐧𝐬𝐢𝐝𝐞𝐫𝐚𝐭𝐢𝐨𝐧𝐬: Entities involved in AI need to develop robust governance frameworks early to align with the Act’s requirements. As AI technologies and legal standards evolve, staying informed and adaptable is crucial.
🔹𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐞𝐫𝐬𝐩𝐞𝐜𝐭𝐢𝐯𝐞: Unlike the EU’s comprehensive approach, the UK is currently opting for a non-binding, principles-based framework for AI regulation. This divergence highlights varying international stances on AI governance.
For businesses and professionals involved in AI, the incoming AI Act represents both a challenge and an opportunity to lead in responsible AI deployment and innovation.

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