- Jul 8, 2024
- 10 minutes
Written By
-
Andreas Blum -
Yohann Doillon
Are You Ready for the EU AI Act?
The European AI landscape is about to change dramatically with the enforcement of the EU AI Act. Approved on May 21st, this regulation introduced far-reaching implications for any AI system deployed within the EU or targeting EU residents. Is your business prepared for this shift?
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Introduction
The Council of the EU finally approved the AI Act on May 21st. It will become law later this year and will be fully in force following a 6–36 months grace period, depending on the kind of AI system. Its impact will be far-reaching. Companies must understand that the Act goes far beyond any other regulation and covers all AI systems deployed within the EU or targeting EU residents. It is a transformative shift in how AI is regulated.
Yet, the complexity of the requirements imposed by the Act requires businesses to act now to adapt their AI systems, or face substantial fines and market restrictions. Understanding these requirements and translating them into concrete actions can be a time-consuming and multifaceted process, especially if organizations are short of access to the required expertise and resources.
