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.
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 […]