The EU formally agreed their AI act and have followed up with a useful Q&A page.

Here's the timeline for adoption:

...the AI Act shall enter into force on the twentieth day following that of its publication in the official Journal. It will be fully applicable 24 months after entry into force, with a graduated approach as follows:

• 6 months after entry into force, Member States shall phase out prohibited systems;
• 12 months: obligations for general purpose AI governance become applicable;
• 24 months: all rules of the AI Act become applicable including obligations for high-risk systems defined in Annex III (list of high-risk use cases);
• 36 months: obligations for high-risk systems defined in Annex II (list of Union harmonisation legislation) apply.

Wondering how the EU AI act might impact your company?

I like the approach taken by hotseat AI. Ask context-specific questions and get a plain language answer underpinned with legal trace.