On 21 May 2024, the Council of the European Union adopted the regulation laying down harmonised rules on Artificial Intelligence (Artificial Intelligence Act). The AI Act is based on a risk-based management approach and establishes obligations for providers and users depending on the level of risk generated by the AI system, namely an "unacceptable" risk, "high-risk", and "low or minimal" risk. The Act requires providers to conduct an impact assessment on fundamental rights before deploying a high-risk AI system and making it available on the market. Furthermore, providers and deployers of certain AI systems, such as those intended to directly interact with natural persons, biometric categorisation or emotional recognition systems, and content generation or manipulation systems, are subject to additional transparency requirements. The Act will come into effect 20 days following its publication in the Official Journal and will be implemented 24 months after it enters into force. Chapters I and II will apply 6 months after the Act's effective date. Chapter III Section 4, Chapter V, Chapter VII, Chapter XII, and Article 78 will be implemented 12 months after the Act comes into effect.
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