Updates on the EU AI Act

As the world’s most comprehensive legislative framework for AI developers, deployers and importers, the new Regulation seeks to guarantee that AI systems placed on the European Union internal market are secure, uphold current laws regarding fundamental rights and adhere to EU values.

Timeline and enforcement structure

Provisions regarding prohibitions will apply already six months after the Regulation’s entry into force on 1 August 2024, while requirements for GPAI will apply 12 months after. Most of the other provisions in the AI Act will apply 24 months after it enters into force, while some specific requirements for high-risk AI systems will apply after 36 months.

With regard to enforcement, the European Commission has established an AI Office on 16 June 2024, which is now located within the Commission’s Directorate General for Communications Networks, Content and Technology (DG CNECT), under the leadership of Lucilla Sioli.

Potential penalties

Penalties for infringements of the new Regulation can reach up to EUR 35 million or 7% of annual global turnover, and up to EUR 15 million or 3% depending on the violation. Incorrect reports can result in penalties of up to EUR 7.5 million or 1.5% of annual turnover. Additionally, providers can be forced to withdraw non-compliant AI systems from the market.

Access our flyer for more information on the EU AI Act here. You can also access our AI Legal Services hub here for further information on how we can help you.

EU AI Act Guide – now ready to download! 

To guide you through the EU AI Act, our multi-disciplinary global team of AI experts has launched our EU AI Act Guide which summarises key aspects of the new regulation and highlights the most important actions organisations should take in seeking to comply with it. Serving a similar purpose as our GDPR Guide, our EU AI Act Guide is divided into thematic sections, with a speed-read summary and a list of suggested priority action points. 

To access the guide, please visit our AI Legal Services page here.