The EU AI Act entered into force on August 1, 2024, following its publication on July 12, 2024, marking a major shift in the regulation of artificial intelligence across the EU. The Act will be implemented in phases, with most provisions coming into effect by August 2, 2026, while certain critical rules, such as prohibitions on high-risk AI systems, will apply as early as February 2025. It introduces strict penalties for non-compliance, including fines of up to EUR 35 million or 7% of a company’s global turnover, positioning the EU at the forefront of responsible AI regulation and governance.