The European Union’s (EU) world-first artificial intelligence law formally took effect on Thursday. EU officials say the Artificial Intelligence Act will protect the “fundamental rights” of citizens while also encouraging investment and innovation in the booming AI industry. The AI Act is a comprehensive rulebook for governing AI in Europe. The AI Act covers any product or service offered in the EU that uses artificial intelligence. The restrictions are based on four levels of risk, and the vast majority of AI systems are expected to fall under the low-risk category. By mid-2026, the complete set of regulations, including restrictions on high-risk AI systems, will be in force. Companies that don’t comply with the rules face fines worth as much as 7% of their annual global revenue.

Read more: https://www.securityweek.com/the-european-unions-world-first-artificial-intelligence-rules-are-officially-taking-effect/