The EU AI Act

The EU is proposing a comprehensive law regulating artificial intelligence. While it is not yet finalized, the EU is using its impactful 2018 GDPR law as a blueprint for the AI Act, and it is viewing it as an opportunity to create a global standard for governing AI.

The AI Act focuses on classifying AI applications into three risk categories, and defining legal requirements based on the risk category of an application.

We offer a free consultation on the proposed AI Act and how it might impact your business. Fill out the following contact form and we'll schedule a time to chat.

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The AI Act FAQ's

When might the AI Act pass?

If the proposal is adopted, the final version of the AI Act will be agreed upon and the final AI act could be adopted before the next EU elections in May 2024.

Will the AI Act only apply to EU companies?

Similar to GDPR, the AI Act will apply to any application used in the EU. This means should the act pass, any companies who have users in the EU will need to comply to the AI Act to continue doing business there.

Furthermore, the AI Act proposal is prompting other major regulators to begin planning similar compliance standards around AI.

What will the penalty be for non-compliance?

Current versions of the AI Act describe 3 levels of fines as penalties for non-compliance. These range between 10-30 million Euros or between 2%-6% of the company's annual global revenue, whichever number is higher.

These formidable fines are clearly designed to compel strict adherence with the AI Act.

What can we do to prepare for the AI Act?

If your company uses or develops any AI applications, you can try to figure out what risk category the AI application falls into, then begin to plan for the likely requirements.

We're happy to consult with you on how the AI Act might impact your business. If you'd like to chat, please fill out the contact form above.

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