The AI Regulation is Here - How Should Your Business Prepare?
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The Council of the European Union has approved the EU AI Act , the world's first standalone law governing artificial intelligence.?
If your business uses AI, getting up to speed is crucial. How can you safeguard your projects under the new law??
We spoke to legal, tech, and data experts to find the best tips. Let’s dive in!
How to Prepare
1?? Understand the Regulations?
First, review and clarify the definitions of the EU AI Act to understand your business's responsibilities. Determine if you currently use AI systems or are procuring them from third parties. Also, consider the likelihood of procuring AI in the coming months and years.
Tanya Chib , Founder and Privacy Lawyer at Privacy Rules , recommends:
Lawyers specializing in business, cybersecurity, and data protection, Thomas Gomes Pereira Prete, Adv. and Yuri Rodrigues , recommend a multidisciplinary approach to preparing for compliance:
Once you have understood the regulations and determined that you have AI systems in use or will do so in the near future, assess them as explained below.
2?? Establish a Comprehensive Risk Management System
Assess the AI systems you develop or deploy to determine their risk level. This involves evaluating the potential impact of AI systems on safety, fundamental rights, and societal welfare and identifying any biases, vulnerabilities, or ethical concerns.
?? This EU AI Act Compliance Checker can help you assess the risk level of your AI system.
Next, implement technical risk mitigation measures or technical controls,?the actual tools and technologies to manage and contain risks.
Several experts raised the topic of technical controls in a recent Mindfuel Dare to DPM webinar dedicated to the EU AI Act.
Gary LaFever , Co-CEO & General Counsel at Anonos, stressed that the obligation to have risk mitigation in place is a consistent theme in the EU AI Act and highlighted technical controls as a critical component of a robust risk management system:
Peggy tsAI , Chief Data Officer at BigID, emphasized that stringent AI regulations are on the rise beyond just the EU AI Act and advised:
Robin R?hm , Founder and CEO of Apheris AI GmbH, added:
3?? Enhance Data Accuracy and Robustness
Ensuring data transparency and explainability is crucial for reliable AI system insights. Accurate data allows businesses to understand clearly how their AI systems work.
However, getting your hands on accurate data is challenging due to sensitivity and regulatory issues.?
For example, using third-party models through vendor APIs, like OpenAI or Anthropic, means every interaction is a data-sharing operation.
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4?? Fortify Cybersecurity Posture
The EU AI Act strongly focuses on protecting personal data. As mentioned earlier, the challenge lies in ensuring data accuracy and implementing robust privacy measures.
Gary LaFever suggests thinking of it as a data supply chain:
?? By using technologies that embed protections in the data , you can expand your AI business cases without running into compliance issues.?
5?? Invest in Training and Awareness
Train employees involved in developing, deploying, and using AI systems to raise awareness of regulatory requirements and promote best practices.
Peggy tsAI highlights the crucial role of data governance:
By investing in training and awareness, you can foster a culture of compliance and best practices across your organization.
6?? Keep Up to Date
Finally, stay informed about the Act's updates, amendments, and interpretations to ensure ongoing compliance with evolving regulatory requirements.
Peggy tsAI believes the Act will raise global expectations for AI transparency:
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See you next month!
Best,
The Anonos Team