by Avi Gesser, Matt Kelly, Martha Hirst, Samuel J. Allaman, Melissa Muse, and Samuel Thomson
From left to right: Avi Gesser, Matt Kelly, Martha Hirst, Samuel J. Allaman, and Melissa Muse. Not pictured: Samuel Thomson. (Photos courtesy of Debevoise & Plimpton LLP).
As legislators and regulators around the world are trying to determine how to approach the novel risks and opportunities that AI technologies present, the draft European Union Artificial Intelligence Act (the “EU AI Act” or the “Act”) is a highly anticipated step towards the future of AI regulation. Despite recent challenges in the EU “trilogue negotiations”, proponents still hope to reach a compromise on the key terms by 6th December, with a view to passing the Act in 2024 and most of the provisions becoming effective sometime in 2026.
As one of the few well-progressed AI-specific laws currently in existence, the EU AI Act has generated substantial global attention. Analogous to the influential role played by the EU’s GDPR in shaping the contours of global data privacy laws, the EU AI Act similarly has the potential to influence the worldwide evolution of AI regulation.
This blog post summarizes the complexities of the EU legislative process to explain the current status of, and next steps for, the draft EU AI Act. It also includes steps which businesses may want to start taking now in preparation of incoming AI regulation.