EU negotiators reach landmark provisional agreement on world's first comprehensive AI Act

European Parliament and EU Council negotiators agree on the text of the EU AI Act after 36 hours of marathon negotiations. The law creates the first binding, comprehensive regulatory framework for artificial intelligence in the world, banning real-time facial recognition in public spaces, requiring risk assessments for high-risk AI in employment, education, and law enforcement, and imposing fines up to 7 percent of global revenue for violations. General-purpose AI systems like ChatGPT face new transparency requirements. The Act takes full effect in 2026. US lawmakers cite the EU framework as a model and warning — that Europe will set the global standard if Congress fails to act.