The European Artificial Intelligence (AI) Act officially came into force on August 1, 2024. Companies must be aware of the key compliance deadlines and potential fines under this comprehensive regulation:
February 2, 2025: Compliance with prohibitions on certain high-risk AI practices must begin.
August 2, 2025: Member States must designate national competent authorities to oversee AI system compliance.
August 2, 2026: Most provisions of the AI Act take effect.
Fines for Non-Compliance:
Up to 7% of global annual turnover for violations involving banned AI applications.
Up to 3% of global annual turnover for other obligations.
Up to 1.5% of global annual turnover for providing incorrect information.
Companies should begin preparing now to meet these deadlines and avoid substantial penalties.
Related Resources:
The European Artificial Intelligence (AI) Act officially came into force on August 1, 2024. Companies must be aware of the key compliance deadlines and potential fines under this comprehensive regulation: February 2, 2025: Compliance with prohibitions on certain high-risk AI practices must begin. August 2, 2025: Member States must designate national competent authorities to oversee […]