EU's Artificial Intelligence Act establishes a comprehensive legal framework for AI, imposing obligations on companies within and outside the EU. It adopts a risk-based approach requiring compliance assessments, internal policies on generative AI, and ongoing monitoring after deployment. The Act categorizes AI systems by risk level, outlines compliance procedures, and mandates transparency and incident reporting. Non-compliance can result in significant penalties. The Act aims to unify the internal market, mitigate risks, and foster trustworthy AI development. Companies must proactively embrace compliance for strategic advantage.
https://www.leadersleague.com/en/news/corporate-compliance-eu-artificial-intelligence-act