Quartz: Here’s what you need to know – “The AI Act is the first major AI law in the world, and was given the final green light by the bloc’s member states, lawmakers, and executive body, the European Commission, in May. The law harmonizes rules on AI use and development across the EU’s single market. “This landmark law, the first of its kind in the world, addresses a global technological challenge that also creates opportunities for our societies and economies,” Mathieu Michel, Belgian state secretary for digitalization, said. “With the AI Act, Europe emphasizes the importance of trust, transparency and accountability when dealing with new technologies while at the same time ensuring this fast-changing technology can flourish and boost European innovation.” Although the AI Act is EU legislation, it will have a major impact on global tech companies, especially in the U.S. However, most of the act’s provisions won’t be in effect until 2026, and companies have months to come into compliance. Here’s what you need to know about the landmark AI law.”