Recently, the European Parliament voted and passed the landmark EU AI Act. It's the first of its kind and sets a benchmark for future AI regulations worldwide . The EU AI Act lays the foundation for AI governance, and it's pertinent for organizations delving into AI systems to comply with the legislation, build robust and secure AI systems, and avoid non-compliance fines.  Photo by Karolina Grabowska via Pexels My three key takeaways from the legislation are as follows: The Act introduces the definition of an AI system: "An AI system is a machine-based system designed to operate with varying levels of autonomy and that may exhibit adaptiveness after deployment and that, for explicit or implicit objectives, infers, from the input it receives, how to generate outputs such as predictions, content, recommendations, or decisions that can influence physical or virtual environments" The Act introduces the classification of AI systems based on risk to society. The Act outlin...