The European Union has officially approved the AI Act, establishing a comprehensive legal framework for the development and use of artificial intelligence across member states. The legislation was formally adopted by the Council of the European Union on May 21, 2024, following its earlier passage in the European Parliament.

The AI Act introduces a risk-based approach to regulating AI systems, categorizing them according to their potential impact on safety and fundamental rights. It sets out specific obligations for providers and users of AI, including transparency requirements, oversight mechanisms, and restrictions on certain high-risk applications.

This regulatory milestone is expected to influence global standards for AI governance, as organizations operating in or with the EU will need to ensure compliance with the new rules. The Act will enter into force 20 days after publication in the EU Official Journal, with phased implementation timelines for different provisions.