On March 13, 2024, the European Parliament passed the
Artificial Intelligence Act1 (the
"Act"), marking the arrival of the first
comprehensive Artificial Intelligence (AI) law established by a
liberal democracy.2
Like the EU's General Data Protection Regulation
(GDPR), introduced in 2018, legal pundits believe the Act could
become a global standard, influencing future legislation including
Canada's proposed Artificial Intelligence and Data
Act.
The Act aims to foster trustworthy AI by creating a uniform
legal framework regulating the development, placement, service and
use of AI Systems (defined below). The Act also strives to promote
a human-centric approach focused on protecting fundamental rights.
With the growing influence of artificial intelligence across all
economic sectors and the Act's extra-territorial reach, this
bulletin addresses five things that Canadian businesses should know
about the Act.
