The EU AI Act officially became law on August 1st, 2024, with key measures for prohibited AI uses and AI literacy programs taking effect on February 2nd, 2025. Businesses must understand their obligations under the Act to avoid significant penalties for non-compliance, which can reach up to 7% of global annual revenue or 35 million EUR.
The European Union has introduced the AI Act to regulate artificial intelligence, focusing on definitions, literacy, and prohibitions on high-risk AI practices. While the regulations aim to promote innovation and responsible AI use, they pose significant challenges for startups and small businesses due to the extensive compliance requirements.
The EU AI Act, enacted to regulate Artificial Intelligence, aims to enhance safety and fairness in AI applications. It introduces requirements for both creatives and developers, emphasizing transparency, data privacy, and ethical use of AI technologies.
The EU AI Act classifies AI systems based on their potential risks, ranging from Unacceptable risk to Minimal-risk AI. High-risk AI applications, such as those used in law enforcement and healthcare, will require strict regulatory compliance before they can be deployed.
The European Union Artificial Intelligence Act (AI Act), which came into effect on August 1, 2024, establishes a risk-based framework for regulating AI, prohibiting unacceptable practices and imposing requirements on high-risk systems. Enforcement of the AI Act will be managed by national market surveillance authorities and the European Commission, which will work together to ensure compliance and impose penalties for non-compliance.
AI is transforming industries, leading to a growing demand for innovative solutions and trained professionals to address governance needs. The self-governance of AI systems requires both organizational and technical controls in the face of new and constantly changing regulatory activity.
Civil society groups are raising concerns over the lack of guidance from the European Commission on banned AI systems as the enforcement date for the AI Act approaches on February 2. The Act includes provisions for prohibiting certain AI systems, but exceptions for public interest could lead to potential abuses, according to critics.
The European Regulation on Artificial Intelligence (AI Act), adopted by the Council of the European Union on May 21, 2024, aims to ensure the ethical and safe use of AI systems within the EU. It establishes a risk-based approach to regulate AI technologies, imposing various obligations on providers and users based on the identified risk levels.
Texas’s proposed AI law, the Texas Responsible AI Governance Act, introduces strict regulations that could hinder innovation in the state. While aiming to address risks associated with artificial intelligence, the legislation may impose heavy burdens on companies, potentially jeopardizing significant projects like the $500 billion Stargate Project.
The Texas Responsible AI Governance Act (TRAIGA) proposes comprehensive regulations for AI, focusing on high-risk systems and their developers. It aims to prohibit certain AI uses while providing limited rights for private litigants and exemptions for small businesses.
Take the first steps in your transformation towards international AI compliance.
Our expert sales team is here to answer your questions, just leave your email and we’ll get in touch.
