On May 21, 2024, the Council of the European Union finally approved the Regulation on Artificial Intelligence (AI Act). The Act regulates the placing on the market, the putting into service and the use of artificial intelligence (AI) systems in the EU. Its main goal is to foster the development and use of AI in the EU, while ensuring a high level of protection of health, safety, and fundamental rights. It follows a risk-based approach considering the risks that may arise from the use of AI systems and it imposes requirements and obligations on the actors in the value chain. The obligations are not restricted to AI systems providers, but also affect, among others, those who use AI systems for professional purposes, who are referred to as "deployers".
In the attached Legal Flash, we summarize the main features of the Act.