![AI Regulation](https://www.coinrank.io/wp-content/uploads/2024/07/AI_EU.webp)
KEYTAKEAWAYS
- EU AI Act published in Official Journal, coming into force on August 1.
- Full applicability by mid-2026 with phased implementation of various provisions.
CONTENT
The European Union’s comprehensive AI rulebook, set to reshape the landscape of artificial intelligence development and deployment, has been officially published. Key deadlines and phased implementation approach unveiled.
The European Union has taken a significant step towards regulating artificial intelligence with the publication of the EU AI Act in its Official Journal. This landmark legislation, the first comprehensive AI rulebook in the EU, is set to come into force on August 1, 2024, marking the beginning of a new era in AI governance.
The AI Act, which EU lawmakers agreed upon in December 2023, introduces a risk-based approach to AI regulation. It categorizes AI applications based on their potential risks and imposes varying levels of obligations on developers accordingly.
Under the new law, most AI applications considered low-risk will remain unregulated. However, the Act prohibits certain AI uses deemed to pose unacceptable risks, such as social credit scoring systems and untargeted facial recognition databases. These bans will take effect in early 2025, six months after the law comes into force.
For “high-risk” AI applications in areas like law enforcement, employment, and critical infrastructure, developers will face stricter requirements regarding data quality and anti-bias measures. A middle tier introduces transparency obligations for AI chatbots and similar tools.
The Act also addresses general purpose AI (GPAI) models, such as those underlying large language models like ChatGPT. These will be subject to transparency requirements, with the most powerful models potentially facing systemic risk assessments.
Implementation of the AI Act will be phased, with different provisions coming into effect at various times. Key dates include:
- Early 2025: Prohibitions on unacceptable risk AI uses apply
- April 2025: Codes of practice for in-scope AI apps introduced
- August 1, 2025: Rules for GPAIs subject to transparency requirements take effect
- Mid-2026: General applicability of the Act’s provisions
- 2027: Extended deadline for certain high-risk AI systems
The EU’s AI Office will play a crucial role in providing codes of practice, though the process of drafting these guidelines has raised some concerns about industry influence.
As the countdown begins, AI developers, policymakers, and stakeholders across the EU and beyond will be closely watching the implementation of this groundbreaking regulation, which aims to foster innovation while safeguarding fundamental rights and values.
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