EU Artificial Intelligence Act: Impact on U.S. Companies, Strategies to Ensure Compliance

The AI Act was published on July 12, 2024, and took effect on Aug. 2, 2024, with most provisions becoming applicable in August 2026. The AI Act is considered the world's first comprehensive legal framework for AI and is expected to have far-reaching implications beyond the EU and will likely shape future regulation of AI in the coming years. 

According to the European Commission Report, the AI Act establishes a legal framework for "foster[ing] trustworthy AI in Europe and beyond, by ensuring that AI systems respect fundamental rights, safety, and ethical principles and by addressing risks of very powerful and impactful AI models." The AI Act generally provides for EU-wide rules on data quality, transparency, human oversight, and accountability.

The AI Act establishes a set of risk-based rules applicable to all parties and roles in the AI ecosystem including developers, exporters, importers, deployers, and distributors. The most significant responsibilities fall on providers (those that develop AI or put it into the market) and deployers (companies under whose authority the AI system is used, including employers) based on the potential level of risk that results from the AI.

Listen as our authoritative panel explores the AI Act's regulatory framework, summarizes key points U.S. organizations need to understand, and provides practical steps for ensuring future compliance with this highly complex regulatory framework.