The European Union has introduced a voluntary code of conduct designed to aid companies in adhering to the Artificial Intelligence Act, scheduled to come into force in 2024. Microsoft has voiced its support and inclination to sign this agreement, whereas Meta has declined due to apprehensions regarding potential legal risks. The Act is poised to impact thousands of enterprises and seeks to govern the utilization of AI technology. Firms must navigate the delicate balance between adhering to regulations and fostering technological innovation. The EU's initiatives in regulating AI have garnered international attention, ushering in a new era for the industry that presents both challenges and opportunities.