Understanding the ins and outs of the EU AI Act | Commercial Awareness Compass #72

The European Union has launched the first comprehensive regulatory framework for Artificial Intelligence (AI), after several years of planning. The Act sets to redefine the approach that companies will take to AI usage, placing emphasis on transparency and user protection. As regulators have now put their foot down, businesses face a difficult choice between strict compliance and accessing the valuable European market or seeking friendlier shores. Will these new requirements secure our safety or simply drive the brightest minds away from Europe? Is the EU setting a global gold standard or a barrier to entry? And will startups be able to shoulder the compliance burden? The Commercial Awareness Compass by AllAboutLaw, helps you build your commercial awareness every week with a beginners, intermediate and advanced breakdown of a story from an expert lawyer and trainee solicitor host. This story was taken from a live conversation a few months ago. If you don't want to wait for these conversations, head over to the Commercial Awareness Compass to get them straight to your inbox each week. 🚀 Boost your commercial awareness: https://www.allaboutlaw.co.uk/commercial-awareness-compass