First AI Regulation Passed: The AI Act

The EU has passed the groundbreaking AI Act, marking a significant milestone in AI regulation.

This pioneering legislation aims to ensure AI systems are trustworthy and respect the rights of EU citizens.

What stands out is the Act's risk-based approach, categorising AI systems based on potential societal harm.

The Act bans AI practices like cognitive behavioural manipulation, social scoring, and predictive policing based on sensitive attributes such as race, religion, and sexual orientation.

High-risk AI applications must register, undergo rights assessments, and submit to regular audits.

Penalties for non-compliance are substantial: up to 7% of global revenue or 35 million euros, highlighting the gravity of these regulations.

This initiative balances the benefits of AI with the need for risk management and compliance.

Even organisations outside the EU using EU data must adhere to these rules, indicating the wide-reaching impact of this legislation.

I find this development incredibly interesting as I've been supporting organisations with their AI and automation policies and governance.

With AI adoption increasing by 32% in Europe, many businesses need immediate audits of their AI systems to ensure compliance.

We are witnessing the evolution of AI alongside comprehensive legislation.

How is your organisation preparing for these new regulations?