On August 1, the AI Act, the first artificial intelligence regulation, comes into force

By: Trademagazin Date: 2024. 07. 31. 12:07

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On August 1, the regulation of the European Union regulating artificial intelligence, the so-called AI Act, comes into force. The legislation will have to be applied gradually, in several steps, and will become mandatory from the middle of 2026. The purpose of the regulation is to make the operation of artificial intelligence more understandable and transparent for operators, but the regulation also raises many additional questions. Among other things, Dr. András Tóth, deputy president of the Economic Competition Authority, talks about this in the latest episode of the GVH Podcast. The chairman of the GVH Competition Council also suggests that over-regulation of artificial intelligence may cause a competitive disadvantage for European businesses.

On July 12, 2024, the text of the AI Act, the world’s first regulation comprehensively regulating the operation of artificial intelligence (AI) solutions, was announced in the Official Journal of the European Union. The law will enter into force on August 1, but it will have to be applied gradually after a 24-month transition period; It will be part of the European and national legal systems from the middle of 2026.

The purpose of the regulation is to make the operation of artificial intelligence more understandable and transparent, including the obligation to mark manipulated content. The legislation applies a risk-based approach and accordingly names several categories for AI systems, from minimal to high risk. These classifications will oblige the development, manufacturing and operating companies to apply the regulatory frameworks appropriately and to take the required safety measures. The fact that only the preamble of the legislation consists of 180 paragraphs clearly indicates how complex and comprehensive the regulation is.