From Minimal Risk To Prohibited Practices: The AI Act Risk Spectrum For AI Systems

Join us as we uncover the latest insights into the European Union's (the 'EU') ground-breaking Artificial Intelligence Act, in the wake of the leak of its most recent consolidated version on 26 January 2024¹. We delve herein into the core objectives, risk-based categorisation, and key provisions of this text, originally proposed by the European Commission on 21 April 2021 and now nearing adoption (the 'AI Act').

Starting with its primary objective, the AI Act aims to enhance the functioning of the internal market by establishing a uniform legal framework for the development, marketing, and use of artificial intelligence systems (the 'AI systems') within the EU. This framework is to be applied in accordance with EU values, to ensure a high level of protection of health, safety and fundamental rights enshrined in the Charter of Fundamental Rights of the EU.