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- 🤖 Everything you need to know to prepare for the EU’s AI Act
Good morning and welcome to the latest edition of neonpulse!
Today, we’re talking about what the Eu’s AI act means for your business 👀
From Compliance to Innovation: Adapting to the EU's AI Act
The EU's AI Act, aimed at regulating artificial intelligence and preventing misuse, is expected to become law by summer 2024. Businesses operating within the EU, regardless of size, will need to comply with new rules and obligations under this legislation. While immediate compliance is not expected, companies are advised to start preparing, with a two-year transition period anticipated.
The AI Act adopts a risk-based approach, categorizing AI systems based on their potential risk levels, from minimal to unacceptable. High-risk systems, used in sectors like critical infrastructure and law enforcement, will face stringent obligations, including risk assessments and CE marking for EU market approval. In contrast, limited-risk systems, like interactive AI chatbots, will require transparency about AI-generated content, while minimal-risk applications face fewer restrictions.
Foundation models, or general-purpose AI systems, are regulated based on their size and whether they are open source, with the largest models facing comprehensive documentation and compliance requirements. EU countries will establish regulatory sandboxes to assist businesses in developing and testing AI systems under regulatory guidance. Non-compliance with the AI Act can result in significant fines, based on the severity of the breach.
It’s important businesses engage with national authorities and the forthcoming European AI Office for support and to ensure compliance with the new regulations.
Do you believe the EU AI Act will positively impact AI development and usage? |
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