The EU AI Act - What companies need to know now!

The upcoming EU AI Act represents an important milestone in the regulation of artificial intelligence (AI). The European Union has set itself the goal of making AI systems safe, transparent and ethically responsible. This means far-reaching changes for companies, as new regulations and obligations will be introduced.

1. the EU AI Act: protecting fundamental rights and promoting trust

The AI Act pursues several core objectives in order to regulate the use of AI in the EU:

  • Protect fundamental rights and safety: particularly in sensitive areas, such as criminal law or healthcare, strict regulations are introduced to ensure that AI does not violate fundamental rights.
  • Promote trust in AI: Transparent and fair use of AI should strengthen the trust of individuals and companies in the technology.
  • Ethical and safe use: AI systems must be developed and used safely and fairly to prevent discrimination and abuse.

2. Obligations and fines

Companies that use AI must fulfil a number of obligations, including

  • Technical documentation: comprehensive documentation on how AI systems work is essential.
  • Transparency: Users must be informed when they interact with AI.
  • Monitoring and risk management: Mechanisms for continuous monitoring of AI systems must be implemented.

Violations of the AI Act can lead to significant fines: Up to 30 million euros or 6% of annual global turnover.

3. AI risk classes: Is your system affected?

The AI Act categorises AI systems into different risk classes, from prohibited to minimal risk. Particularly high-risk AI systems, such as those used in healthcare or criminal justice, are subject to strict requirements, such as

  • Strict documentation and reporting requirements.
  • Implementation of risk management systems.
  • Mandatory certification by a competent authority.

Companies must be aware of which of their systems are considered high-risk and take appropriate measures to fulfil the requirements.

Conclusion:

Companies need to carefully examine which of their AI systems are considered high-risk. The EU AI Act is coming - and with it new challenges, but also opportunities for companies that want to use AI safely and innovatively.