EU AI Act Published in the Official Journal of the EU - What Does It Mean for Businesses?

The EU AI Act was published on the 12^th of July in the Official Journal of the EU, signifying the end of the legislative journey that started in April 2021 when it was proposed by the European Commission.

This legislation aims to prioritize human rights in the development and deployment of AI, categorizing systems based on the impact they can have, requiring high-risk AI systems to comply with certain requirements and be assessed before putting them on the market as well as during their lifecycle, and imposing heavy fines for non-compliance.

The EU AI Act categorizes AI systems and general-purpose AI models into various risk levels, each with specific requirements and obligations concerning technical design, privacy, data governance, and transparency, among others.

The Act's intricate technical and institutional governance framework requires a phased implementation. Consequently, its publication in the Official Journal does not render it immediately applicable; rather, it initiates the countdown for the stipulated periods before the Act becomes fully enforceable.

When will the EU AI Act be implemented?

Once published, the Act will become effective 20 days later, with its provisions being introduced in stages. Six months after the Act takes effect, the initial regulations concerning banned practices will come into force. The complete timeline for implementing the Act's provisions is as follows:

How to check if my system is at risk under the EU AI Act?

Find out how the EU AI Act impacts your business by using our EU AI Act risk calculator tool. Please use this calculator for each AI system in your company.

EU AI Act readiness with Holistic AI

Make sure your business is ahead of the curve, as extensive preparation is required for compliance. Our AI governance platform is an all-in-one solution, providing you with the tools you need to align your AI usage to the complex obligations under the EU AI Act with ease. Schedule a call with a member of our expert team to find out more.