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ARTICLE · 13 NOVEMBER 2024

EU Artificial Intelligence Act – Business Implications And Compliance Strategies

Greenberg Traurig
Greenberg Traurig
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Greenberg Traurig

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On Aug. 1, 2024, the EU Artificial Intelligence Act (AI Act) entered into force and will gradually take effect over the next 36 months.

United StatesTechnology

On Aug. 1, 2024, the EU Artificial Intelligence Act (AI Act) entered into force and will gradually take effect over the next 36 months. This marks not only the end of yet another legislative saga within the European Union but also the beginning of a new era in AI regulation. The AI Act creates an extensive regulatory framework which will affect businesses worldwide and across virtually every sector. Given that parts of the AI Act will apply starting Feb. 2, 2025, companies should consider developing and implementing compliance strategies now.

The AI Act aims to promote human-centric and trustworthy AI while ensuring a high level of safety, fundamental rights, and environmental protection. At the same time, legislators hope to boost innovation and employment and to make the European Union a leader in the development of secure and ethical AI. Whether the AI Act will be able to fulfil these objectives remains to be seen, but the AI Act introduces an unprecedented

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