They just agreed on the EU AI Act: so what does this mean for your business?

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There’s tons of buzz about the EU AI Act – and with good reason. So what actually happened, and what does it mean for organizations like yours? Let’s get into it:?

What happened?

On December 8, the European Parliament agreed on the long-awaited EU AI Act , arguably the most comprehensive legislation to date aimed at regulating AI. The Act takes a comprehensive and risk-based approach to regulating AI, all with the ultimate goal of protecting the safety and fundamental human rights of people interacting with AI systems.

How does it affect your company?

Your responsibilities when it comes to complying with the AI Act will largely depend on your relationship to AI systems. But regardless, where you will have obligations is making sure you have visibility within your own organization and understand where AI is being used in your business. From there, you can begin to educate employees about risk, offer responsible use policies, and monitor systems for significant changes that may impact their risk categorization.

How can you get ahead of it?

Start thinking about your AI governance program now, even if you aren’t required to strictly comply with the Act. Understanding where AI models are used in your organization and what risk level they fall into is a key part of setting up your AI governance program under the guidelines of the EU AI Act. So if you’re feeling overwhelmed, setting up your AI inventory is a good place to start.

Timeline: AI's emerging trends and journey

• OECD published several papers and reports on AI risk management , AI incidents , trends in demand for AI skills , AI principles , and AI technologies .
• Sam Altman, CEO of OpenAI, was fired on Nov 17. Then, Microsoft hired him . Five days later, he returned to OpenAI .
• The UK introduced in Parliament its AI Bill . Among other things, the bill establishes an AI Authority , mandates the appointment of an AI officer, and sets out reporting requirements for third-party data and IP

Your AI 101: What is...?

Remember the Pope Balenciaga AI fake ? Or the 80s AI Yearbook Photo Trend ? Generative AI (or GenAI) is everywhere nowadays. It creates an image or a video out of an input of text – also known as a prompt ?? How does it work? GANs, VAEs, and Transformer Models all come into play to give shape to that prompt and the output the model creates. Learn more about the technical building blocks of generative AI and how these GenAI models work.

Follow this human

Every month, we'll recommend an influencer in the AI space for you to follow. Boniface de Champris is the Policy Manager at CCIA Europe, where he deep-dives into all things AI regulation in the EU.

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