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The EU AI Act - New Laws to Regulate Use

Friday, 28th June 2024

After final approval by the European Council on 21st May, the EU AI act is set to be published in the EU's Official Journal. The act, which was first finalised and endorsed in February this year, is the first Act in the world that aims to provide a framework for ethical and safe usage of Artificial Intelligence.

While much of the requirements fall on the providers, organisations which deploy AI will bear some responsibilities too. The law aims to encourage the safe and trustworthy uptake of AI systems across the EU in both private and public sector capacities. 

In an effort not to stifle innovation, the Act provides for a number of different levels of requirements depending on risk profile. Those deemed to have limited risk will be subject to only light obligations. 

In order to enforce the new regulations, a number of new governance bodies have been established including an AI Office and an AI Advisory Forum for stakeholders. Any fines for infringements of the new Act will be set as a percentage of the organisation's annual turnover.

More about the AI Act and how it might relate to you, here

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