Human and humanoid

EU gives greenlight to the world’s first significant law on artificial intelligence

On Tuesday 21st May 2024, European Union member states reached a consensus on the world’s first significant law to regulate artificial intelligence, a move echoed by institutions globally to implement controls on the technology.

The EU Council announced it has granted final approval for the AI Act, a pioneering regulation designed to establish the first extensive framework for artificial intelligence.

The EU Commission is authorized to impose fines on companies violating the AI Act, up to 35 million euros ($38 million) or 7% of their annual worldwide turnover, whichever is greater.

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