The news: The EU’s AI Act began enforcing its first compliance deadline February 2 and will ban AI applications that regulators deem an “unacceptable risk.” 

• Independent national authorities and an AI Board will oversee the AI Act’s implementation, with market surveillance beginning in August.
• Companies using AI tools in the EU must adhere to these regulations or face fines up to €35 million ($37.9 million) or 7% of their global revenue.