Official EU legislative updates and announcements

EU AI Act Establishes Comprehensive AI Framework Effective August 1, 2024

Sep 13, 2024, 09:33 AM

The EU AI Act, which came into effect on August 1, 2024, establishes the world's first comprehensive framework for artificial intelligence. The legislation focuses on data quality, transparency, and accountability, aiming to reshape how businesses use AI responsibly. It addresses AI-specific risks, bans dangerous AI practices, and defines responsibilities for AI providers. The Act is seen as a significant step towards responsible regulation of AI, balancing innovation with ethical standards. Firms have less than two years to comply with these new requirements. Additionally, ISO/IEC 42001:2023 acts as a compliance facilitator for the EU AI Act.