A safe step to handle the Pandora's box has finally come to power. I'm excited to share that on July 12, 2024, the EU published Regulation (EU) 2024/1689, establishing the first comprehensive legal framework for AI. This landmark regulation is a significant step towards ensuring that AI systems respect fundamental rights, safety, and ethical principles while fostering innovation and transparency. 🔍 Key Objectives of the AI Act: 1️⃣ Promote Innovation: Foster a supportive environment for the development and adoption of cutting-edge AI solutions. 2️⃣ Protect Rights: Safeguard fundamental rights and individual privacy in AI development and usage. 3️⃣ Ensure Transparency and Safety: Set standards for transparency, safety, and reliability of AI applications. Timeline: The regulation enters into force on August 1, 2024, with most provisions becoming applicable on August 2, 2026. During this period, additional documents such as delegated acts, guidelines, and standards will be issued to clarify requirements, particularly for general-purpose AI models and systems already on the market. #EUAIAct #ArtificialIntelligence #AIRegulation #AIEthics #AICompliance #AIAct #DataPrivacy #Innovation #Technology #Europe #EthicalAI
🚀 Important regulatory update: The EU AI Act published in the Official Journal! On July 12, 2024, the EU published Regulation (EU) 2024/1689, establishing the first comprehensive legal framework for AI. This regulation aims to promote innovation, protect fundamental rights, and ensure transparency and safety in AI development. Most provisions will become applicable on August 2, 2026, with additional guidelines expected to clarify requirements. Read the full text here: https://lnkd.in/euGfjvqx 📢 Star's regulatory team helps businesses understand new AI regulations, create compliance roadmaps and achieve ISO 42001 AI management system compliance. Learn more here: https://lnkd.in/ehh5Hc9w #EUAIAct #ArtificialIntelligence #AIRegulation #AIEthics #AICompliance #AIAct #DataPrivacy #Innovation #Technology #Europe #EthicalAI