Manager, Artificial Intelligence | INQ Consulting
In March, the European Parliament passed the world’s first comprehensive AI regulation, making a significant step in the global regulation of AI technology. The AI Act, endorsed by a majority with 523 votes in favour, aims to balance the promotion of human-centric and trustworthy AI with protecting health, safety, and fundamental rights.
The AI Act introduces a risk-based classification framework for AI systems ranging from unacceptable to low risk, imposing regulatory requirements based on these risk levels. AI systems deemed to present an unacceptable level of risk are banned due to their potential to violate human rights, manipulate behaviour, or exploit vulnerabilities.
The AI Act is seen as a pioneering effort to ensure AI development aligns with European values, emphasizing risk reduction, opportunity creation, and the protection of workers’ and citizens’ rights. A newly established AI Office will assist companies in complying with the Act, underscoring the EU’s commitment to leading technological innovation while safeguarding fundamental rights and values.
Before the AI Act becomes law in the EU, it must undergo a series of procedural steps, starting with language finalization by lawyer-linguists to correct textual errors. Following this, the Council of the EU will give its formal endorsement, which is expected in April. The Act will then come into effect 20 days after its publication in the Official Journal of the EU.
Organizations should be aware that a phased implementation will take place, meaning that compliance efforts should begin immediately. This compliance timeline is visualized below:
Not sure where to get started on your EU AI Act compliance journey? INQ’s portfolio of AI governance services are customized to fit your specific needs and get you ready for compliance. To learn more, contact us at ai@inq.consulting or visit our website at www.inq.consulting.
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