The European Union’s Artificial Intelligence Act (officially takes effect on Aug. 1, following its publication in the Official Journal of the EU on July 12. This landmark legislation marks a significant step toward regulating the rapidly evolving landscape of AI within the boundaries of the EU. As stakeholders across various industries prepare for these new rules, understanding the phased implementation and key aspects of the AI Act is crucial. AI Act implemented Under the AI Act’s implementation scheme, the legislation will be introduced gradually, similar to the EU’s approach of introducing …