KEY POINTS
- Lawmakers passed the legislation in March, but its publication in the European Commission's journal in July set the wheels in motion for its coming into force
- Under the law, regulators will evaluate AI technologies on a scale of four levels of risk
- Over 700 companies say they will sign on to an AI Pact, a commitment to comply with the law early
The European Union has set a global precedent with the official implementation of the EU AI Act, which came into force on Thursday. This landmark legislation, governing artificial intelligence (AI), applies to all AI systems currently in place or under development within the EU. First proposed by the European Commission in 2020, the AI Act aims to address the potential negative impacts of AI and establish a regulatory framework for its development and usage by companies and individuals across the bloc.
