EU AI Act Takes Effect, Setting New Global Standards for AI Regulation

The EU's comprehensive AI legislation introduces strict guidelines on AI use, emphasizing transparency, safety, and ethical considerations.

The EU AI Act categorizes AI applications by risk levels, with high-risk uses facing stringent regulations.
Generative AI tools like ChatGPT must disclose AI-generated content and undergo transparency evaluations.
Violations of the AI Act can result in fines up to €35 million or 7% of annual turnover.
The legislation bans certain uses, including biometric identification and social scoring.
Experts advise companies to audit AI systems and prepare for compliance to avoid severe penalties.