Businesses could have as little as six months to get ahead of the imminent AI legislation, leaving little to make the necessary adjustments. If you're engaged in a prohibited practice, you need to identify it and do something about it now, as this is the category that holds the highest penalties (up to 7% of worldwide revenue).
Get a head-start on the AI Act using our checklist of steps you should be taking now:
- Establish and AI governance process – even without the AI Act and in addition to it, the use of AI today requires you to meet data protection, employment, human rights and financial regulatory obligations
- Make an AI inventory
- Determine if your AI falls into one of the categories
- Determine your role for that AI
- Immediately focus on any use case that could be prohibited
- Adjust AI governance if you fall into or are likely to fall into one of the categories
- Watch out for standards and guidance – rigor will become clearer as these emerge
This is the most comprehensive, high profile, openly debated and ambitious legislation to address AI to date in the world. It's likely that it will achieve the "Brussels effect" and influence the rest of the world, but even if other countries don't reproduce it (as many did with GDPR), it will most likely be the gold standard referential, so understanding what it covers, and how it will regulate AI will be worth knowing, wherever your business operates.
For further detail of the EU AI Act, prohibited practices, High-risk AU, Limited risk AI, Minimal risk AI and General purpose AI watch our recent webinar "What obligations will apply to your business*".
*Please note our webinar was based on leaked drafts, so some of the detail may subject to minor changes.
Parts of the AIA could become applicable before the end of the year. Are you prepared?
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