The Artificial Intelligence Act And Consumer Protection – Are You Ready?

Artificial intelligence, or AI for short, plays a major role in the modern lives of people and companies. Various automations and algorithms govern online services, online trade and digital marketing. This has a significant impact on consumer behaviour. When it comes to consumer protection, the new regulation aims to increase consumers' trust in AI and increase responsibility and safety in the market's technological development. On 21 April 2021, the European Commission proposed a regulation laying down harmonised rules on artificial intelligence. According to estimates, the regulation could enter into force before the end of the year. With a transitional period of two years, the regulation would become applicable by the end of 2024.