On 29 November 2021, the Slovenian Presidency (the “Presidency”) of the European Council published its compromise text (“Compromise Text”) on the European Union’s (“EU”) draft Artificial Intelligence Act (“AI Act” or “Act”) alongside a progress report on the Act. While the overall structure of the AI Act and many of its key provisions (including, those relating to potential fines for non-compliance), remain the same, there are some significant proposed changes to the Act which we have noted below including, for example, a new Article on general purpose AI systems. (more…)