EU AI Act to Enter into Force

Following the July 12, 2024 announcement by the European Union of the forthcoming entry-into-force of the Artificial Intelligence Act, Cravath has collaborated with UK firm Slaughter and May to publish a memo for clients entitled “EU AI Act to Enter into Force.” The memo outlines the Act’s approach to reduce the risks posed by certain types of artificial intelligence by focusing on responsible innovation and fines for violations. It reviews the Act’s key provisions, including those providing extra-territorial reach, looks at practical steps organizations can take to comply, and compares the Act’s approach to AI regulation to the current approaches in the United States and United Kingdom. The EU AI Act will come into force on August 1, 2024, starting a two-year transition period during which its provisions will take effect.

Please click here to read the memo.