EU's AI Act Enters Force in Late June 2024, Bringing New Rules for Organizations
The EU's Artificial Intelligence Act (AI Act) is set to enter into force in late June or early July 2024, marking a significant step in regulating AI within the EU's single market. The act applies to both public and private organizations developing, deploying, or using AI systems within the EU.
The AI Act categorizes AI systems based on their potential impact, ranging from prohibited to low-risk and high-risk. Prohibited systems will be banned six months after the act's entry into force. Organizations using high-risk AI systems must follow a standard template for monitoring these systems 18 months after the act takes effect.
The act will introduce rules for providers of General Purpose AI (GPAI) 12 months after its entry into force. Codes of conduct for AI developers and deployers will be finalized nine months after the act comes into effect. The AI Act complements the GDPR, focusing on product safety while the GDPR protects human privacy rights.
The AI Act establishes a regulatory framework with a phased implementation schedule over two years. Organizations operating within the EU should prepare for the act's requirements, ensuring compliance with the new rules as they come into effect.
The EU's AI Act is expected to be published in the Official Journal of the European Union after its final adoption by the European Parliament and Council, typically a few weeks after their decisions. Organizations should stay updated on the precise date of publication to ensure timely compliance with the new regulations.
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