Our law firm has recently prepared an article with information regarding the EU Artificial Intelligence Regulation - the ‘AI Act’ (the article is available here).
On May 21, 2024, the EU Council gave the final approval to the AI Act, which was the final step in the legislative process that started in 2021. The final text will be published in the Official Journal of the EU in the coming weeks and will enter into force twenty days after the publication. The new regulation will apply two years after its entry into force, with some exceptions for specific provisions.
It is now time for companies that use and develop AI technology, to start actively preparing for the forthcoming regulations and requirements that they bring. A review of their practices should be conducted in order to ensure compliance with the new rules.
