On July 12, 2024, the EU issued Regulation (EU) 2024/1689, known as the EU AI Act, marking a significant milestone as the first extensive AI regulation globally. This regulation emerged over three years after its initial draft by the EU Commission in April 2021. The AI Act establishes a broad, sector-independent regulatory framework designed to set the standard for AI governance within the EU. This framework is expected to influence both local and global companies and global legislative approaches. Importantly, the AI Act’s scope extends beyond the EU; it applies to entities worldwide that might not be physically present in any EU member state but engage with the EU market. This represents the culmination of a lengthy legislative process, with the Act set to be enforced starting on August 2, 2024. Higher Education Institutions (HEIs) should familiarize themselves with the implications of this regulation, understand their responsibilities, and prepare for compliance by the designated date. This series of blogs exclusively written for Stankevicius by the author aims to highlight the critical aspects of the AI Act that HEI organizations need to grasp to ensure they are ready for the upcoming regulatory changes, specifying important deadlines for meeting these new requirements.
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