How many resources did you invest on GDPR? Are you ready to do it again with the EU AI Act?
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The EU AI Act is a legislative framework established by the European Union, officially adopted by the EU Parliament in March 2024. All EU member states are mandated to adhere to the regulations outlined in the EU AI Act by the designated deadline of 2025.
By introducing the EU AI Act, the European Union seeks to foster innovation, mitigate risks, and safeguard fundamental rights in the rapidly evolving landscape of artificial intelligence.
Establish a clear scope by analysing and registering AI use cases and the underlying models. Distinguish high and non-high risk use cases and understand your role as an AI actor.
Understand security, bias, fairness, explainability, safety and performance risks – and how to identify, evaluate and handle such risks. Our AI expert can explain more in the free advisory call.
Policies for data governance, privacy, security, test/quality, monitoring and incident management are essential for compliance to the act and as a fundament to risk management and monitoring.
Ensure risks are continually monitored as the use case changes, and the data and model evolve. Monitor performance, drift, incidents and failures, accuracy and bias.
How many dedicated resources did you spend on GPDR? Are you ready to take another round with the EU AI Act?
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On December 8th 2023, after a marathon session, the EU Parliament and Council reached a provisional agreement on the AI Act, aiming to balance innovation with ethical considerations.
The Act promises transformative regulatory shifts, seeking to protect fundamental human rights and environmental sustainability from high-risk AI.(Published on January 2024)
Ushering in an era of responsible AI, the EU AI Act establishes stringent ethical and safety standards for AI systems, minimizing potential risks and maximizing societal benefit.
Learn more about the EU AI Act penalties and achieving regulatory compliance.(Published on January 2024)
Please note the information provided is for general understanding and not legal advice.
The AI Act defines four levels of risk as follows: “unacceptable risk”, “high risk”, and “limited risk or minimal/no risk”. Depending on the risk level, organizations must ensure that their AI solutions adhere to specified regulations.
In early December 2023, the EU Parliament and Council reached a provisional agreement on the AI Act to balance innovation with ethical considerations. To give organizations time to comply with the new law, the AI Act will likely enter into force in 2025.
The AI Act will be legally binding throughout the EU’s 27 member states. For firms located outside the EU, the AI Act will apply to AI models placed on the EU market or used within the EU.
If your organization uses AI, you must ensure that your AI solutions comply with the AI Act. Compliance may involve technical and organizational measures, record-keeping, and human oversight, depending on the risk level.
The best way to prepare for the EU AI Act is to integrate AI Governance into your operations. With comprehensive measures that support, verify, and document compliance, your organization will be able to adapt to present and future AI regulations. 2021.AI can help you comply with the Act.
The Act prescribes fines up to 35 million euros or 7% of global turnover, and up to 7.5 million euros or 1.5% of turnover.
