The European Union’s Artificial Intelligence Act was approved by EU lawmakers and takes effect in 2024. This legislation aims to protect citizens’ health, safety and fundamental rights against potential harms caused by AI systems.

The comprehensive EU AI Act creates a tiered risk categorization system with various regulations and stiff penalties for noncompliance. For businesses looking to use the Act as a framework for improved AI compliance strategies, it’s essential to understand its key aspects and implement best practices.