The EU’s AI Act will come into force shortly following its recent approval …

Summary of Legislative Process and Analyses of the AI Act:

Legislative Process: The AI Act, approved by the Council of the EU on May 21, is the world’s first legislation of its kind. It uses a risk-based approach to impose stricter regulations on AI systems with higher potential harm to society.

The Act aims to standardize AI rules in the EU, promoting safe, trustworthy AI while fostering investment and innovation. It excludes military, defense, and research applications.

Once signed, it will take effect twenty days after publication with a two-year implementation period.