The new rules are set to shake up the AI game, ban dodgy use of brainy tech, and ensure there's no funny business going on behind the scenes.

The law's not just a load of hot air, either. It's got some serious muscle, with fines that could gobble up to seven per cent of a company's global dough if they step out of line.

And it's not just about keeping the tech titans on their toes; it's about making sure AI doesn't go rogue, search for Sarah Conner and stays friendly to humans.

The AI Act is not just for the Euro crowd. It's got the clout to cause a stir worldwide, who'd want to miss out on selling to a market as big as the EU? We have already seen EU laws on privacy influence the US.

The AI Act might be the rulebook the rest of the world decides to play by.

Speaking during a debate Tuesday, before the plenary vote, Dragoș Tudorache, MEP and co-rapporteur for the AI Act, said: “We have forever attached to the concept of artificial intelligence the fundamental values that form the basis of our societies. And with that alone the AI Act has nudged the future of AI in a human-centric direction. In a direction where humans are in control of the technology and where it, the technology, helps us leverage new discoveries, economic growth, societal progress, and unlock human potential.”