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Are you prepared for the changes coming with the EU Artificial Intelligence Act (EU AI Act)? Get insights and analysis from our latest article. Diligent’s Dale Waterman shares his expertise and insight on the following key areas: ✔️ What is EU Artificial Intelligence Act ✔️ The EU AI Act timeline for implementation ✔️ The implications of the EU AI Act for organisations ✔️ Steps to promote the responsible and ethical use of AI #Risk #AIAct #Diligent

The EU AI Act is here, and it's set to transform the landscape of artificial intelligence in Europe. While organisations welcome the legislation as a step to protecting human rights and protecting against potential negative impacts of AI, it appears that few are ready. Dive into insights from Keith Power in the Chartered Accountants Ireland article here. #EUAIAct #ArtificialIntelligence

The UK Department for Science, Innovation, and Technology (DSIT) has set out a principles-based framework for AI regulation, which will be enforced by existing regulators rather than new legislation. Regulators were asked to publish their strategic approaches to AI by 30 April 2024. The government wants to support regulators in developing their AI expertise and tools, and a central function will facilitate risk monitoring, regulator coordination, and knowledge exchange. The need for collaboration between regulators and government to ensure practical and coherent regulation that supports innovation is clear. https://lnkd.in/dXfnG5E4

With #AI regulatory temperatures rising 🌡️ it’s time for enterprises to assess their place in the AI value chain. In this week’s #FocalPoint, we’ll share how to determine your AI risk level, so your organization can comply with the new EU AI Act ⬇️

Having released the regulation in full in its Official Journal, the EU now looks to force businesses to take action ahead of the act officially coming into force on 1 August 2024. This date marks the beginning of a staggered rollout, meaning the regulatory demands of the EU’s risk-based strategy will begin to mandate organizations gradually over the next two years. Six months after the act becomes operational in early 2025, the EU’s policy on prohibited AI will be enforced, meaning organizations using AI systems deemed as “unacceptable” in risk will need to cease or comply

A useful thought starter..... This article has some sales elements to it, but it is timely for Boards and Directors to consider the implications of AI and how we need to tackle fundamental concerns surrounding AI such as safety, scalability, and profitability. There are moves in Europe to introduce regulation which seeks to provide important guardrails for decision makers. What are our Boards talking about here?

Acrolinx CEO, Volker Smid, emphasized the importance of compliance for businesses following the passing of The European Union's AI Act in a recent interview with TechTarget. In today's global market, prioritizing compliance is crucial for enterprises to navigate AI complexities and succeed. What impact will this EU AI Act have on other regulations worldwide? Keep up-to-date on the implications of this legislation here: #AI #Regulation #Legislation #Risk #Compliance #BusinessStrategy

With #AI regulatory temperatures rising 🌡️ it’s time for enterprises to assess their place in the AI value chain. In this week’s #FocalPoint, we’ll share how to determine your AI risk level, so your organization can comply with the new EU AI Act ⬇️

With #AI regulatory temperatures rising 🌡️ it’s time for enterprises to assess their place in the AI value chain. In this week’s #FocalPoint, we’ll share how to determine your AI risk level, so your organization can comply with the new EU AI Act ⬇️

"The Albanese government is mulling over options that would impose mandatory guardrails on the use of AI in a bid to ensure organisations safely use the technology. A discussion paper due out on Thursday (5 September 2024) will outline three options to be considered over months-long consultations. Two options include retrofitting existing legislation, while a third proposes a stand-alone Act mimicking European Union legislation. They come as new voluntary AI standards are rolled out. Industry and Science Minister Ed Husic said AI 'guardrails' were needed because the vast majority of businesses were failing to establish 'responsible practices'. 'Research that we’re releasing today from the National AI Centre(, https://lnkd.in/dyU9qAmm,) shows that nearly 80 per cent of businesses in Australia think they’re doing the right thing, but only around 30 per cent are putting in place the responsible practices required to use AI,' he told the ABC on Thursday morning. 'So what we need to do is create that bridge between best intention and best practice.' He said the government was trying to identify and communicate the AI risks to businesses and then “show them the guardrails … so they can deal with those risks”. The proposed 10 mandatory safeguards largely focus on ensuring humans always have control when interacting with AI. Joseph Olbrycht-Palmer, Albanese government considers AI-specific law, 𝘕𝘦𝘸𝘴𝘞𝘪𝘳𝘦 republished by 𝘈𝘉𝘊, 5 September 2024, https://lnkd.in/d-MpCZdD Department of Industry, Science and Resources, 𝐍𝐞𝐰 𝐫𝐞𝐩𝐨𝐫𝐭 𝐬𝐡𝐨𝐰𝐬 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐧𝐞𝐞𝐝𝐬 𝐦𝐨𝐫𝐞 𝐠𝐮𝐢𝐝𝐚𝐧𝐜𝐞 𝐨𝐧 𝐀𝐈 𝐚𝐝𝐨𝐩𝐭𝐢𝐨𝐧—The report found that on average Australian organisations adopt only 12 of 38 responsible AI practices (words in bold in original), 5 September 2024, https://lnkd.in/dyU9qAmm Department of Industry, Science and Resources, Introducing mandatory guardrails for AI in high-risk settings: Proposals Paper for introducing mandatory guardrails for AI in high-risk settings, 5 September 2024, https://lnkd.in/dgYA_RJh