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ARTICLE · 16 DECEMBER 2024

Key Things You Need To Know About the EU AI Act

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Evaluate all AI systems your business uses or supplies to check their compliance with the EU AI Act.

United KingdomTechnology
Sej Lamba
Sej Lamba
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In Short

  • The EU AI Act categorises AI systems by risk levels (unacceptable, high, limited, minimal) and imposes compliance requirements based on risk.
  • The Act applies to EU and non-EU businesses whose AI affects EU individuals, with potential fines up to €35 million or 7% of global turnover.
  • Early compliance preparation is essential to avoid penalties.

Tips for Businesses

Evaluate all AI systems your business uses or supplies to check their compliance with the EU AI Act. Categorise them by risk and adapt practices accordingly. Legal advice can be valuable to navigate the Act's complexity and ensure your business meets requirements.

Artificial intelligence (AI) tools are increasingly prevalent and used across various industries worldwide. However, the rapid growth of AI technologies has also raised some serious concerns about matters such as AI safety, ethics, and transparency. In response to such concerns, the European Union introduced the EU

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