Niall Savage’s Post

The EU AI Act will have significant changes for all business, our most recent thought leadership decodes what we know so far, and actions business should take now to ensure they are compliant in the future. If you have any queries about AI and its implications for your business please get in touch with our Risk Consulting team or contact Sean Redmond to discuss more

Today is a huge milestone as the EU AI Act officially enters into force, marking the culmination of an ambitious and bold journey towards responsible and managed adoption of artificial intelligence. It is the results of the collaborative effort of the European institutions to shape a balanced regulatory approach that safeguards individuals and society while promoting AI innovation and uptake across the Single Market, pursuing the objectives of the European AI Strategy. The EU AI Act is a key component of a broader spectrum of regulations which includes the General Data Protection Regulation (GDPR), the Data Governance Act, and the Data Act. Together, these regulations form a cohesive framework that aims to ensure the trustworthy use of AI, protect personal data, facilitate data sharing, and foster a competitive digital economy. As we navigate this new regulatory landscape, it's crucial for organizations to understand the implications of the Act on their AI initiatives. It's an opportunity to reassess our strategies, enhance our governance frameworks, and lead the way in ethical AI practices. We're pleased to see that some of our clients have already reached out to us for assistance in aligning their AI strategies with the new regulations and opportunities. Their proactive approach is commendable and sets a positive example for others in their respective industries. Meanwhile, we understand that many organizations are yet to grasp the full extent of this change. To those clients, we extend our expertise and support to help navigate this complex regulatory environment and leverage the opportunities it presents. I'm looking forward to engaging with clients and fellow professionals, aiming at collectively contributing to shape a responsible AI ecosystem that promises to be rich of opportunities. Let's embrace this change and work towards a future where AI not only drives innovation but also upholds the highest standards of integrity and public trust. #EUAIAct #ArtificialIntelligence #Regulation #Innovation #EuropeanAIStrategy #DataAct #DataGovernanceAct #DataGovernance #GDPR

The EU AI Act brings significant change for businesses. Our most recent thought leadership decodes what we know so far, and what actions should be taken now to ensure businesses are compliant in the future. Check it out: https://lnkd.in/dcFEj99Y

Are you curious about the governance of artificial intelligence

This should help with at least two of the taxa in the EU's increasingly complex regulatory structures for the digital economy...

Are you a "provider" or "deployer" of AI - the difference can make all the... err... difference. This article focuses on how you can unintentionally find yourself subject to stricter requirements under the EU AI Act. For me, there's an underlying policy and governance question - who should we be regulating, and how? Australia's AI opportunities, at least in the short term, lie in driving adoption of AI (according to the Productivity Commission, at least). So how can we make it simpler for providers and deployers of AI to not only comply with new requirements coming in the future, but to understand whether their AI applications comply with existing laws. Or as this article shows, to even understand which obligations apply. Most importantly, how do we make sure these measures measurably impact safety (and not compliance-for-its-own-sake)? Particularly when the ability to understand, let alone influence, many AI applications is concentrated in a small number of large suppliers? These are all topics Australia is grappling with as it pulls together guidance for safe and responsible AI, and mandatory guiderails for high risk AI. (Australia also released its national framework for the assurance of AI in government last week - making it clear that responsibility for AI safety needs to be assessed on a use case (not a tool basis), with responsibility sitting solidly shoulders of government agencies.)

Emotion reading AI in schools and the workplace? Spoke of this and related issues during my interview with Polish TV’s TVP WORLD on the future of AI regulation in the EU.

If you missed our RAPS webinar "Transforming Regulatory Compliance with Artificial Intelligence" on Tuesday, May 14, 2024 we have the replay here for you! This discussion with esteemed guests Liz Haines, Donald Ellis, Ann Vu and Priya Bhutani covered: *The growing complexity of the regulatory space *The role of AI and automation in regulatory compliance *What you can do to ensure your products get to market faster and remain compliant *What to think about when considering a RIMS(Regulatory Information Management System) You can access the replay here: https://lnkd.in/daTh9383 #RegDesk #RAPS #webinar #regulatorycompliance #artificialintelligence

The EU AI Act, effective since August 1 2024, introduces a forward-looking, risk-based approach to AI regulation, emphasizing consumer rights and safety. Here's a breakdown: - **Minimal Risk:** AI systems like recommender systems and spam filters fall here. - **Specific Transparency Risk:** Transparency required for AI Chatbots and AI-generated content with labels such as biometric categorization, emotion recognition systems, Synthetic audio, video, text & images. - **High Risk:** Strict rules for "Customer decisioning applications" such as Lending and Recruiting. - **Unacceptable Risk:** Banned if it infringes on human rights or free will. The AI Act at EU will be implemented and enforced by the Commission’s AI Office and supported by European AI Board, a scientific panel, and an advisory forum. It sets a full applicability timeline by August 2, 2026, with phased provisions enforcement. Prohibitions for unacceptable risk will be enforced after 6 months, governance rules for so-called General-Purpose AI models after 12 months, and AI system regulations will apply after 36 months. The AI Pact aids in compliance transition, urging early adherence to key obligations for global AI developers. Non-compliance can lead to fines up to 7% of global turnover for banned AI applications, 3% for other violations, and 1.5% for supplying incorrect information. #AI #Regulation #AIPact

❗ This 𝗰𝗼𝗺𝗽𝗿𝗲𝗵𝗲𝗻𝘀𝗶𝘃𝗲 𝗘𝗨 𝗔𝗜 𝗔𝗰𝘁 𝗴𝘂𝗶𝗱𝗲 cuts through the complexity, offering 𝗮𝗰𝘁𝗶𝗼𝗻𝗮𝗯𝗹𝗲 𝗶𝗻𝘀𝗶𝗴𝗵𝘁𝘀 𝗳𝗼𝗿 𝗖-𝘀𝘂𝗶𝘁𝗲 𝗹𝗲𝗮𝗱𝗲𝗿𝘀 𝘄𝗼𝗿𝗹𝗱𝘄𝗶𝗱𝗲 to navigate this groundbreaking legislation. (Find the link below.) ⤵️ 📑 𝗧𝗟; 𝗗𝗥 - 𝗮𝗰𝗰𝗲𝘀𝘀 𝘁𝗵𝗲 𝗴𝘂𝗶𝗱𝗲 𝗵𝗲𝗿𝗲: https://lnkd.in/dtn5pMS5 The EU AI Act has officially 𝘁𝗮𝗸𝗲𝗻 𝗲𝗳𝗳𝗲𝗰𝘁 𝗼𝗻 𝗔𝘂𝗴𝘂𝘀𝘁 𝟭. It is designed to 𝗿𝗲𝗴𝘂𝗹𝗮𝘁𝗲 𝘁𝗵𝗲 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁 𝗮𝗻𝗱 𝘂𝘀𝗲 𝗼𝗳 𝗔𝗿𝘁𝗶𝗳𝗶𝗰𝗶𝗮𝗹 𝗜𝗻𝘁𝗲𝗹𝗹𝗶𝗴𝗲𝗻𝗰𝗲 within the European Union, however, your 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗱𝗼𝗲𝘀𝗻’𝘁 𝗻𝗲𝗲𝗱 𝘁𝗼 𝗯𝗲 𝗽𝗵𝘆𝘀𝗶𝗰𝗮𝗹𝗹𝘆 𝗽𝗿𝗲𝘀𝗲𝗻𝘁 𝗶𝗻 𝘁𝗵𝗲 𝗘𝗨 𝘁𝗼 𝗯𝗲 𝗮𝗳𝗳𝗲𝗰𝘁𝗲𝗱 by it. There is a 𝗽𝗿𝗲𝘀𝘀𝗶𝗻𝗴 𝗻𝗲𝗲𝗱 𝗳𝗼𝗿 𝗼𝗿𝗴𝗮𝗻𝗶𝘇𝗮𝘁𝗶𝗼𝗻𝘀 𝘁𝗼 𝗽𝗿𝗲𝗽𝗮𝗿𝗲 for the upcoming parts of this Regulation. Failing to act quickly and adapt to these changes could result in 𝗵𝗲𝗮𝘃𝘆 𝗳𝗶𝗻𝗲𝘀 𝗳𝗼𝗿 𝗻𝗼𝗻-𝗰𝗼𝗺𝗽𝗹𝗶𝗮𝗻𝗰𝗲. We understand how stressful navigating these waters is for everyone, so 𝘄𝗲 𝗰𝗿𝗲𝗮𝘁𝗲𝗱 𝗮𝗻 𝗶𝗻-𝗱𝗲𝗽𝘁𝗵 𝗴𝘂𝗶𝗱𝗲 with everything you need to know to safeguard your AI journey and remain compliant. Reminder: Understanding and adapting to these new technological changes is not merely a box-ticking exercise; 𝗶𝘁’𝘀 𝗮𝗻 𝗼𝗽𝗽𝗼𝗿𝘁𝘂𝗻𝗶𝘁𝘆 𝘁𝗼 𝗯𝘂𝗶𝗹𝗱 𝘁𝗿𝘂𝘀𝘁, 𝗲𝗻𝗵𝗮𝗻𝗰𝗲 𝗿𝗲𝗽𝘂𝘁𝗮𝘁𝗶𝗼𝗻, 𝗮𝗻𝗱 𝗴𝗮𝗶𝗻 𝗮 𝗰𝗼𝗺𝗽𝗲𝘁𝗶𝘁𝗶𝘃𝗲 𝗲𝗱𝗴𝗲. ✨ 𝗧𝗼𝗴𝗲𝘁𝗵𝗲𝗿, 𝘄𝗲 𝗰𝗮𝗻 𝗲𝗻𝘀𝘂𝗿𝗲 𝘆𝗼𝘂𝗿 𝗔𝗜 𝗶𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀 𝗱𝗿𝗶𝘃𝗲 𝗮 𝗽𝗼𝘀𝗶𝘁𝗶𝘃𝗲 𝗰𝗵𝗮𝗻𝗴𝗲 - 𝗳𝗼𝗿 𝘀𝗼𝗰𝗶𝗲𝘁𝘆 𝗔𝗡𝗗 𝘆𝗼𝘂𝗿 𝗯𝗼𝘁𝘁𝗼𝗺 𝗹𝗶𝗻𝗲.