EU AI Act: Transparency Obligations Take Effect 2 August 2026

The EU AI Act's Article 50 transparency obligations became enforceable on 2 August 2026, applying globally to any provider or deployer whose AI outputs are used in the EU, with fines up to 15 million euros or 3 percent of worldwide turnover. Boards must ensure management has classified in-scope AI systems and established a compliance roadmap, escalation ownership, and reporting cadence. This is a direct board oversight obligation, not a purely technical matter, and affects SEA companies serving European markets.