On August 1, 2024, a significant milestone was reached for Europe’s tech sector as the European Artificial Intelligence Act (AI Act) came into force. This legislation is the first large-scale and comprehensive regulatory framework governing the use of artificial intelligence within the European Union. Its primary objective is to ensure the responsible and safe development of AI technologies while protecting the health, safety, and fundamental rights of citizens.
The AI Act introduces a risk-based approach to regulating AI systems, classifying them into four categories: minimal risk, specific risk, high risk, and unacceptable risk. Depending on the category, different requirements are imposed on the system.
The AI Act aims to establish a unified standard across all EU countries, creating a safe and trustworthy ecosystem for AI development. This legislation is expected to foster the adoption of AI in crucial sectors such as healthcare, transportation, and public services while ensuring the protection of the rights and interests of EU citizens.
