EU AI Law: Dates, Rules and Punishments for AI & Web3
EU AI Act, wey dem call di world first complete AI law, set one uniform law framework to regulate AI for 27 member state dem. E dey apply to both providers and users worldwide, e take one risk-based approach: e ban use wey get unacceptable risk, e put strict requirements for high-risk systems dem (like healthcare, work, law enforcement), and e make sure say transparency dey for limited-risk apps. Key compliance milestones start for February 2, 2025 with banned AI uses, and full requirements go dey ready by mid-2026. From August 2, 2025, GPAI models go face new systemic-risk rules, but old models get until August 2, 2027 to comply. Penalties fit reach €35 million or 7% of global turnover for banned use, and up to €15 million or 3% for GPAI non-compliance. Big AI players like Google, Amazon, Anthropic, IBM, Microsoft, Mistral AI and others don sign voluntary GPAI code, but Meta no gree. EU AI Act want make balance between innovation with trustworthy AI governance and clear compliance deadlines.
Neutral
Di EU AI Act bring clear, uniform rules for AI and Web3 innovation, e reduce regulatory wahala but e no ban market potential sharply. E set risk levels and compliance deadlines, e create environment wey people fit predict, comot AI long term for blockchain and decentralized apps. Compliance cost and punishment be wahala for short term, like GDPR eventually boost data services, but transparency and governance fit make investors and users trust more. Like GDPR for EU, e first make industry careful but later e make European tech market strong. So for short term, e fit make compliance cost adjust; for long term, e go get neutral or small positive effect on market stability and trust.