EU AI Act comes into force: new rules, challenges and adaptation for businesses

[tasnimsanika69]

Valeria Rodriguez
Written by Valeria Rodriguez August 1, 2024 at 1:20 PM

Share

Twitter



The EU's artificial intelligence law came into force on Thursday and will apply to all existing artificial intelligence (AI) systems as well as those in development. This first law attempts to regulate the use of AI based on the risks that have been raised since its arrival. The legislation, which was approved in March and published in the Official Journal of the European Commission in July, sets out a detailed framework on the oversight and regulation of all artificial intelligence systems, both existing and those in development.

This law classifies AI systems into four risk categories: no risk, minimal risk, high risk and prohibited systems. Meanwhile, practices that manipulate user decision-making or expand facial recognition databases will be banned from February 2025. On the other hand, high-risk systems, such as those that handle biometric data or influence critical decisions, will have to meet strict requirements, including transparency in data sets and human supervision.

Business adaptation to AI legislation
Starting on August 1, a series of dates and deadlines will be implemented in the coming months and years so that companies that use AI in any aspect can prepare and familiarize themselves with the new legislation and comply with it without major problems.

Heather Dawe, director of AI at the consultancy firm UST, says that adaptation to the new law can take between three and six months , depending on the size of the company and the role that artificial intelligence technology has played in its operations to date. She also recommended that companies consider creating internal councils to audit their technologies and ensure compliance with the regulations. So far, it is known that fines for non-compliance can reach up to 7% of global annual turnover.

To this end, the European Commission has set up an AI Office with 60 internal staff members and will recruit 80 external candidates to oversee the implementation of the law. An AI Council has also been set up with delegates from all 27 Member States to ensure uniform implementation. In addition, the Commission also plans to invest €1 billion in AI by 2024 and up to €20 billion by 2030.

“What we hear everywhere is that what the EU is doing is pure regulation (…) and that this will block innovation. This is not correct,” said Thomas Regnier, spokesman for the European Commission. “Legislation is not there to push companies not to launch their systems, but quite the opposite.

The future of AI legislation
While the law was generally welcomed as a positive step towards greater regulation, there are criticisms about its scope and application. Risto Uuk, head of EU research at the Future of Life Institute , said the definition of risk was still general and could use tweaking to be more specific. European Digital Rights has also raised concerns about biometrics, policy and national security loopholes.

The EU AI Act thus represents a significant effort to regulate artificial intelligence in the most responsible way possible, but it also poses challenges for both businesses and regulators. The evolution and effective implementation of this legislation will be key to ensuring that AI continues to be developed safely and ethically and increasingly carefully.



Newsletter
Subscribe to our newsletter!
WhatsApp
Follow MarketingDirecto.com on WhatsApp

Topics

EuropeArtificial intelligence


Share

Twitter



ACCIONA launches the "On wheels" campaign with the help of the Menos Humos agency
I Annual SEO Salary Study in Spain

TOP 5: MOST VIEWED

Media
10 Unconventional Christmas Movies That Will Feed Your Cinephilia This Holiday Season
Silent Night Christmas Movies
December 25, 2024


Interviews
“We realized that there was talent that didn’t have a window,” S. Carvalho (ISII Group)
Silvia Carvalho, president of ISII Group
December 26, 2024


Marketing books, publications and studies
38% of Spaniards admit to spending more than they can on online purchases
Online shopping consumers
December 25, 2024


Social Media Marketing
Elon Musk's "scam": X increases the price of its Premium+ subscription by 4 euros
X Elon Musk
December 26, 2024


Events and Training
How to overcome the challenge of furnishing a trade fair stand
How to furnish a trade show stand with unique furniture
December 26, 2024


Latest news

Advertising brands
Repsol taps into AI to create a 100% personalized Christmas greeting
Repsol Christmas greetings
December 26, 2024


Events and Training
How to overcome the challenge of furnishing a trade fair stand
How to furnish a trade show stand with unique furniture
December 26, 2024


television
King Felipe VI's Christmas Eve speech registers its lowest audience since 2016
King Felipe's Christmas Eve speech
December 26, 2024


Social Media Marketing
Elon Musk's "scam": X increases the price of its Premium+ subs austria whatsapp list cription by 4 euros
X Elon Musk
December 26, 2024


Interviews
“We realized that there was talent that didn’t have a window,” S. Carvalho (ISII Group)
Silvia Carvalho, president of ISII Group
December 26, 2024


Recommended news