On July 12, 2024, the final text of the EU AI Regulation (EU) 2024/1689 (“AI Act”) was published in the Official Journal of the European Union. The law was approved by the Council of the EU on May 21, 2024.
The AI Act sets out harmonized rules across the EU for various different types of actors in the AI value chain (e.g. providers, importers, distributors, deployers etc.) based on the risks associated with the use of AI systems and has extraterritorial application.
The AI Act enters into force August 1, 2024, and is applicable from August 2, 2026; however, certain provisions will apply in August 2025 and others in August 2027.
For more information, please see our Client Alert, “The EU AI Act is here: What you can do to prepare” (available here).
Regulation (EU) 2024/1689 | Timeline and information page | Press release (21 May 2024)