Understanding the EU AI Act for Business
Assisting companies in complying with existing laws to facilitate ethical and effective AI deployment.
The forthcoming EU AI Act is a crucial factor that businesses must grasp and navigate. This key legislation aims to set ethical and safe guidelines for AI applications.
Whilst the Act imposes certain data restrictions and new requirements like watermarking for AI content, these are hurdles that can be surmounted.
Alongside strict data privacy standards akin to GDPR, these laws encourage companies to adjust and innovate rather than hinder progress. Leaders in the field must stay informed and engaged with these regulatory frameworks.
The EU AI Act will significantly influence AI and industry, and we plan to delve into this emerging topic with our industry peers in the coming years.
- Domain: The specific sector where the AI system operates, such as Healthcare or Education.
- Purpose: The intended objective of the AI system, like Patient Diagnosis or Exam Scoring.
- Capability: The function that the AI system offers, such as Facial Recognition or Sentiment Analysis.
- User: The individual using the AI system, e.g., Doctor, Teacher.
- Subject: The targeted individual or group for the AI system, like Patients or Students.
Identifying High-Risk AI
To gauge the risk associated with an AI system, its intended purpose must be scrutinised.
Risk is determined by two criteria:
- AI systems are tagged as high-risk if they serve as safety components in products subject to CE standards, as outlined in Annex II of the AI Regulation.
- Standalone AI systems listed in Annex III of the AI Regulation are also considered high-risk. For instance, AI applications in biometric identification, education, credit services, and critical infrastructure management fall under this category.
It’s important to note that the responsibility for accurate classification lies with the provider.Ongoing research at AI Ireland on the impact of the EU AI Act continues.
To find out more about the AI Act, check out the website www.artificialintelligenceact.eu.
Our latest AI EU Act Podcast you may find of interest
Topics discussed in this episode include:
- What is the AI Act
- Why companies need to figure out AI regulation
- How organizations can prepare for The AI Act
- Immediate measures that companies can put in place
- Challenges in introducing The AI Act
- Considerations to take from a national perspective