EU AI Act — Full Applicability Deadline in 7 Weeks
The EU AI Act becomes fully applicable August 2, 2026 — covering GPAI model obligations and governance rules already in force from August 2025. The European Commission published a Code of Practice on marking AI-generated content June 10. High-risk system rules embedded in regulated products have an extended transition to August 2028 (via the AI Omnibus), but the August 2 deadline is live for most providers. The IAPP’s AIGG Europe 2026 conference last week flagged AI sovereignty — not compliance — as the dominant practitioner concern.
• Why it matters for Canada/banking: Any Canadian institution deploying AI-powered services into EU markets faces live obligations in 7 weeks. The sovereignty framing (replacing compliance framing) is analytically significant — it marks a maturation of the regulatory conversation.
• Source: European AI Office