EU AI Act published – enters into force on 1 August
The long-awaited AI Act has been published in the Official Journal of the EU and will enter into force on 1 August. The law regulates AI systems based on risk level.
What happened?
On 12 July 2024, the EU AI Act, Regulation (EU) 2024/1689, was published in the Official Journal of the European Union. This marks the formal adoption of the law. The regulation will enter into force in all 27 EU member states on 1 August 2024. Most of the provisions will become fully applicable on 2 August 2026.
Key facts
| Publikationsdatum | 12 juli 2024 |
|---|---|
| Ikraftträdande | 1 augusti 2024 |
| Tillämpningsstart (majoritet bestämmelser) | 2 augusti 2026 |
| Maximal böter | 35 miljoner EUR eller 7% av global omsättning |
”On 12 July 2024, the European Union's Artificial Intelligence Act, Regulation (EU) 2024/1689 ('EU AI Act') was published in the EU Official Journal, making it the first comprehensive horizontal legal framework for the regulation of AI systems across the EU.”
”The EU AI Act enters into force across all 27 EU Member States on 1 August 2024, and the enforcement of the majority of its provisions will commence on 2 August 2026.”
”Non-compliance with the EU AI Act will be met with a maximum financial penalty of up to EUR 35 million or 7 percent of worldwide annual turnover, whichever is higher.”
Why it matters
The EU AI Act is the world's first comprehensive horizontal regulatory framework for AI systems. It aims to create a harmonised framework for the development, market placement, commissioning, and use of AI within the EU. The law employs a risk-based approach, meaning regulation is adapted to the risks associated with different types of AI systems.
Who is affected?
The law is primarily aimed at developers, manufacturers, importers, and distributors of AI systems, as well as operators using AI systems within the EU. Organisations using AI systems in high-risk situations, such as healthcare, transport, and law enforcement, will be most affected. Users of general-purpose AI models (GPAI) are also impacted through the obligations imposed on providers.
Impact on the EU
The EU AI Act applies directly in all 27 member states from 1 August 2024. It is specifically designed to harmonise AI regulation across the union and establish a uniform standard. This means all companies operating in the EU market must comply with the law's provisions.
What else you should know
Fines for violations can reach a maximum of €35 million or 7 per cent of a company's total annual global turnover, whichever is higher.
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