Today, 13 March 2024, the European Union's groundbreaking AI Act was approved by the European Parliament in a significant plenary session. This marks a pivotal step in the legislative journey of this landmark regulation.
The passing of the EU AI Act by the European Parliament represents one of the two crucial official stamps needed for the Act to be officially adopted as European legislation. The next and final step in this process involves securing the nod from the Council of the European Union, as per the EU's ordinary legislative procedure.
Although this Council approval is still needed, in the lead-up to the Coreper (Committee of the Permanent Representatives) I endorsement, the Presidency of the Council of the EU signaled its preliminary consent. This meant that if the Parliament approved the text as it is, then the AI Act could essentially be considered enacted – which happened today.
Before becoming law, the text approved by Parliament must undergo further scrutiny and revision by legal specialists to ensure linguistic precision and legal coherence. Following this, there will be another adoption for the changes in wording by the parliament. Then the Council's formal approval is anticipated in May.
Once these steps have been completed, the Act will be published in the Official Journal of the EU, which will officially trigger its entry into force on the 20th day after publication.
It's important to highlight that the Act's entry into force is distinct from its application. The application of the Act's provisions will be phased, affecting various sectors at different stages, ensuring a measured and thoughtful integration of this comprehensive piece of legislation into practice. This timeline is summarized below.
The entry into force of the EU AI Act is just around the corner now, and some of its provisions are likely to start applying before the end of this year. Compliance with such a comprehensive landmark legislation cannot happen overnight. The best way to ensure that your systems are ready for the Act and to avoid penalties is to take steps early.
Schedule a call with our experts to find out more about how Holistic AI can help you on your journey for the AI Act readiness.
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