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In recent years, artificial intelligence (AI) systems have become increasingly common in both business and daily life – with many people not even fully aware that AI is changing the way they go about their day.  From virtual assistants to online shopping to driving to streamlining production processes, AI is powering so much of what we do.

In December 2023, the EU’s three branches – the European Parliament, the Council of the EU and the European Commission – reached a provisional agreement on the EU’s proposed Artificial Intelligence Act (AI Act). Once it passes – it hasn’t been fully approved yet – it will be the world’s first comprehensive legislation on AI and could set a standard for laws enacted in other parts of the world. 

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This new EU initiative, designed to promote sustainability in the EU and globally, will impact companies in the EU and beyond. Here’s how you can get ready for it

The Corporate Sustainability Due Diligence Directive (CSDDD) is a new piece of legislation that will have far-reaching implications for EU companies and all companies doing business in the EU. It wants to ensure that companies operate sustainably and responsibly. The reporting requirements will be stringent and are designed to get companies to protect the environment, maintain social justice and promote a stronger, sustainable economy.

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