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Ai Act Gets Final Eu Approval: What Companies Can Do Now

Parliament said the AI Act "aims to protect fundamental rights, democracy, the rule of law & environmental
The Fashion Law 6:01 pm on May 21, 2024

The European Union passed final legislation for harmonized regulation of artificial intelligence (AI), setting forth legal guidelines to address risks, ethics, and societal impact. This introduces penalties for non-compliance and encourages innovation while ensuring data privacy. Companies should preemptively assess AI systems and consult experts to adhere to these regulations by mid-2026.

AI Regulation: EU establishes AI laws for safety, ethics.
Risks & Ethical Consideration: Addressing societal implications and data privacy.
Non-Compliance Penalties: Companies face significant fines for violations.
Preparation Timeline: Firms should start compliance preparations by 2026.
AI System Auditing & Assessment: Reviewing current AI applications and processes is crucial for alignment with new laws.

https://www.thefashionlaw.com/as-the-ai-act-gets-eu-approval-what-companies-can-do-now-to-prepare/

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Ai Act Gets Final Eu Approval: What Companies Can Do Now

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