EU AI Act categorizes AI, sets rules, takes effect 2024
EU lawmakers approved the AI Act, set to take effect in 2024. It categorizes AI applications based on risk levels, with high-risk uses facing stricter requirements. Generative AI models must disclose training data and comply with copyright laws. The law influences global AI regulations, with the U.S. and China also taking steps. Enforcement includes fines up to 35 million euros. The AI Act will be fully enforced by mid-2026.