EU AI Act - Political Agreement reached

After months of fierce debate, political agreement was finally reached on the EU’s landmark AI Act on 8th December 2023. Ursula von der Leyen described it as “the first-ever comprehensive legal framework on Artificial Intelligence worldwide” and it is true to say that it has caught the attention of organisations across the globe, with its wide extra-territorial reach, high fines and prohibition on certain types of AI which pose an unacceptable risk.

In this briefing, we highlight some of the key aspects of the AI Act (‘the Act’), focussing on the following questions:
 

1. What is the aim of the Act?
2. What does it cover?
3. Who is caught by its obligations?
4. How does its risk-based approach work?
5. Fines: what happens if you don’t comply?
6. Timings: when will it apply?

Note: while political agreement was reached, work is continuing at a technical level to finalise the details. There is therefore currently no finalised text of the Act available (meaning the information below may be subject to change).

Please download the full briefing for further information.