New EU AI Regulation AI Act - Key Milestones and Obligations
29.08.2024Company: Weinhold Legal, s.r.o. advokátní kancelář
With the entry into force of the EU Artificial Intelligence Regulation "AI Act" on 1 August 2024, it is not only the European technology sector that is preparing for the major changes in the field of artificial intelligence (AI) that will be introduced by the AI Act's gradual entry into force. This regulation sets out a strict regulatory framework for AI systems to ensure the safe and ethical use of this technology, a transparent environment for development, and to foster innovation. The regulatory framework aims to ensure a high level of protection of health, safety, fundamental rights enshrined in the Charter, including democracy, the rule of law and environmental protection.
Our attached infographic provides an overview of the key milestones and obligations that are tied to the AI Act.
"The first key deadline is 1 August 2024, when the Regulation officially entered into force, starting the 24-month period for full implementation of its requirements. Most of the provisions of the regulation will become applicable on 2 August 2026. However, AI systems that are classified as posing an unacceptable risk will be banned in just six months in February 2025, and the rules for general models of artificial intelligence (GPAI) will start to apply from August 2025,"
explains Weinhold Legal senior associate Daša Aradská.
"The AI Act also introduces a system of penalties which, as we are used to from other European regulations, is based on the worldwide turnover of companies or a predetermined amount in millions of euros, whichever is higher,"
adds Daša Aradská.
Weinhold Legal is intensively involved in this topic and is ready to provide expert legal advice in connection with the implementation and compliance with the requirements of the EU AI Act. We hope that the attached infographic will help you better understand the importance and scope of the new AI Act regulation and prepare for the upcoming changes.
Tags: Law | Economics | Business Development | IT |
