The EU AI Act came into effect on August 1, 2024, marking the beginning of a new era in AI regulation. The Act establishes clear standards and compliance requirements for AI applications within the EU, reflecting a governance strategy based on risk management. Following the implementation of the Act, AI developers and applications will be classified according to their risk levels, subject to varying compliance timelines. The use of AI technologies is prohibited in specific circumstances, such as law enforcement using remote biometrics in public spaces. High-risk AI applications must undergo stringent assessments and regulatory audits, while low-risk applications require.

The EU has initiated a consultation on rules for providers of General AI Models (GPAI), aiming to provide guidance for compliance with the EU AI Act legal obligations and ensure the 'trustworthiness' of GPAI. The consultation is divided into three parts, focusing on transparency, risk classification and assessment, and the review and monitoring of codes of conduct, to establish relevant behavioral guidelines. Participants include GPAI providers, businesses, civil society, rights holders, and academic experts, whose feedback will influence the formulation of the behavioral guidelines, particularly regarding the summary of model training content.

❗ Europe is unable to reach an agreement on how to regulate foundational models, and the AI Act is expected to not pass in the October meeting. 🔍 Spain has proposed a new compromise that calls for more frequent reviews of the models' vulnerabilities. 🌐 European government officials hope that the EU AI Act will become a potential template for creating regulations for generative AI.