EU AI Act

EU Artificial Intelligence
Act 2024

Full article available

The European Union Lays Down Rules
for Artifical Intelligence

EU AI Act marks major regulation by 27-nation bloc

Timeline after adoption

6 months

A ban on unacceptably risky AI comes into effect.

12 months

Rules for general-purpose AI models like ChatGPT take effect.

24 months

The majority of the act begins to apply, addressing many of the high-risk AI uses.

36 months

Obligations extended to more high-risk AI uses.

Consequences & Fines

(subject to EU Law)

€35m

or

7%

of global revenue

€15m

or

3%

of global revenue

€7.5m

or

1%

of global revenue

EU AI Act Risk Classifications