Pioneering AI Governance: A First Look into the Landmark EU AI Act

On 13 March 2024, the European Parliament approved the Artificial Intelligence Act, the world’s first comprehensive legislation specifically designed to regulate artificial intelligence systems. This legal note offers an overview of the obligations introduced by the Act and outlines the preparatory steps that Singapore-based businesses and organisations deploying AI systems in the European Union should consider. The Act is expected to commence in the second or third quarter of 2024.