The European Union Artificial Intelligence Act Has Entered Into Force!

The European Union Artificial Intelligence Act ("AI Act") was published in the Official Journal of the European Union ("EU") on July 12, 2024, and entered into force in all 27 EU Member States on August 1, 2024. The AI Act, which will be implemented gradually, will have consequential impacts on actors in the EU market and beyond.

Background

The AI Act is the first comprehensive AI regulation aiming to address the risks to health, security, and fundamental rights posed by artificial intelligence ("AI") systems. The European Commission announced the first draft regulation on AI in April 2021. Following the consultations received from concerned stakeholders, in June 2023, the European Parliament publicly announced its proposals for amendments to the draft regulation. Subsequently, following trilateral negotiations between the Council of the EU, the European Parliament and the European Commission, a consensus was reached on the regulation on 9 December 2023. The