European Union lawmakers have given final approval to the AI Act, making it the world's first comprehensive set of AI rules. The act will come into effect later this year and will serve as a global reference for other countries seeking to regulate AI. It adopts a risk-based approach, with stricter requirements for high-risk AI applications. Some uses of AI are banned altogether, such as social scoring systems and certain types of predictive policing. The law also addresses generative AI models, requiring data transparency, compliance with copyright law, and labeling of AI-generated media. Its impact is expected to extend beyond Europe's borders, as other countries and organizations are also working on their own AI regulations. The AI Act is set to become law by May or June, with enforcement by individual EU countries and potential fines for violations. There may be additional legislation in the future to cover areas not fully addressed in the current law.