AI Act
Artificial Intelligence Act
Summary
Regulation for the development, deployment, and use of AI in the EU.
Applies to
Providers, importers, distributors, and users of AI systems in the EU.
Example
A company implementing an AI system for employee recruitment.
Benefits
Increased safety, trust in AI, harmonization of regulations across the EU.
Non-Compliance Risk
Risk of financial penalties, ban on selling AI products.
Fines
Up to €30 million or 6% of annual global turnover (whichever is higher).
Effective date
Expected in 2024 (subject to final legislative approval).
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