{"id":191089,"date":"2024-11-03T15:04:28","date_gmt":"2024-11-03T15:04:28","guid":{"rendered":"https:\/\/legalvision.co.uk\/?p=191089"},"modified":"2024-12-12T01:40:55","modified_gmt":"2024-12-12T01:40:55","slug":"eu-ai-act-key-things","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/data-privacy-it\/eu-ai-act-key-things\/","title":{"rendered":"Key Things You Need To Know About the EU AI Act"},"content":{"rendered":"\n

Artificial intelligence (AI)<\/strong> tools are increasingly prevalent and used across various industries worldwide<\/a>. 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 AI Act, the first comprehensive legislation regulating AI systems. This landmark law, which recently came into effect, is designed to ensure that AI is developed and used safely and transparently. This article will explore critical things your business should know about the EU AI Act<\/a> and its business implications.<\/p>\n\n\n\n

What is the EU AI Act?<\/h2>\n\n\n\n

The EU AI Act is a law which categorises AI systems based on their potential risk to human rights and safety. The law classifies these systems into various risk categories- unacceptable, high, limited, and minimal or no risk. Unacceptable risk systems, such as real-time biometric surveillance and social scoring, are banned entirely. High-risk systems (which include AI in law enforcement, healthcare, and critical infrastructure) are subject to stringent requirements, including risk management, transparency, and human oversight. Systems classified as limited or minimal risk must comply with transparency rules, although they face fewer regulatory rules.<\/p>\n\n\n\n

How Will the EU AI Act Impact Business?<\/h2>\n\n\n\n

If your business is part of the AI value chain (e.g., as a provider, deployer, distributor, or importer), you will need to assess whether your AI systems fall within the scope of the EU AI Act<\/a>. High-risk systems will be the most affected.<\/p>\n\n\n\n

Businesses (depending on their activities and use of AI) may need to take various compliance-related steps, including implementing risk management systems, ensuring transparency, complying with codes of practice, and enabling human oversight throughout the AI system’s lifecycle. Businesses must also keep records of the AI’s performance and take immediate corrective action if issues arise.<\/p>\n\n\n\n

For limited-risk systems (such as chatbots), businesses must ensure transparency by informing users that they are interacting with AI. Even if your systems pose minimal risk, complying with best practices and voluntary guidelines can help businesses improve trust and minimise any regulatory risks in the future.<\/p>\n\n\n\n

Your business needs to remember that while this is EU law, it does not just apply to European companies. The EU AI Act also applies to businesses outside the EU if their AI systems affect individuals within the EU. <\/p>\n\n\n\n

For instance, as a UK business, you must comply with the EU AI Act if you supply AI systems to the EU market or if your AI systems are used within the EU. This extraterritorial reach mirrors the GDPR’s reach, meaning your company could face fines for non-compliance, even if you operate outside the EU. If your UK business falls within the law’s scope, you must ensure that your AI practices align with the EU AI Act’s requirements to avoid these consequences.<\/p>\n\n\n

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