CNBC February 3, 2025
Key Points
– The EU AI Act, a first-of-its-kind regulatory framework for the technology, formally entered into force in August 2024.
– On Sunday, the deadline for prohibitions on certain AI systems and staff technology literacy requirements officially lapsed.
– Companies face fines of as much as 35 million euros ($35.8 million) or 7% of their global annual revenues — whichever amount is higher — for breaches of the EU AI Act.
The European Union formally kicked off enforcement of its landmark artificial intelligence law Sunday, paving the way for tough restrictions and potential large fines for violations.
The EU AI Act, a first-of-its-kind regulatory framework for the technology, formally entered into force in August 2024.
On Sunday, the deadline...
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