News Formal

The EU’s AI Act and How Companies Can Achieve Compliance

  • 📰 HarvardBiz
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The EU’s forthcoming AI Act imposes requirements on companies designing and/or using AI in the European Union, and backs it up with stiff penalties. Companies need to analyze where they might fail to be compliant and then operationalize or implement the requisite steps to close the gaps in a way that reflects internal alignment.

For most companies, that won’t be easy. The article lays out what boards, C-suites, and managers need to do to make this process work and ensure their companies will be compliant when regulation comes into force., paving the way for its official passage in March or April of this year. Put simply, the Act is akin to Europe’s General Data Protection Regulation , passed in 2016, but for artificial intelligence.

As the founder and CEO of Virtue, an AI ethical risk consultancy, he and his team work with companies to design, implement, scale, and maintain AI ethical and regulatory risk programs. His work has been profiled by The Wall Street Journal, the BBC, CNN, Fox News, and Forbes. Reid also advises the government of Canada on their federal AI regulations, has been a senior adviser to the Deloitte AI Institute, and served on Ernst & Young’s AI Advisory Board.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 310. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tech Companies Investing in AI Lead to Job CutsSAP is investing $2 billion in AI integration and restructuring 8,000 roles, leading to job cuts and re-training of workers.
Source: CBSHealth - 🏆 480. / 51 Read more »

Tech companies slash more than 3,900 Bay Area jobs in 2024 as layoffs widenCutbacks fueled by hundreds of staffing reductions in February hint at a forbidding year for the crucial industry.
Source: mercnews - 🏆 88. / 68 Read more »

GenAI Can Help Small Companies Level the Playing FieldGenerative AI has the potential to close content, insight, and technology gaps that large corporations typically have over their smaller counterparts. This shift presents a unique opportunity for SMEs, whose inherent agility gives them an edge in adopting and innovating with AI.
Source: HarvardBiz - 🏆 310. / 63 Read more »

How Early-Adopter Companies Are Thinking About Apple Vision ProThe Apple Vision Pro marks the biggest experiment yet in the field of “spatial computing,” which its boosters argue has the potential to be the next era of tech — a shift on par with the emergence of mobile computing.
Source: HarvardBiz - 🏆 310. / 63 Read more »

Gold IRA Investing Companies February 2024To help you find the right precious metals IRA, we’ve reviewed the best gold IRA companies in the industry. Here is the list of the top 5 gold IRA companies in the USA.
Source: Investingcom - 🏆 450. / 53 Read more »

Cryptocurrency companies must now report energy use to governmentThe Biden administration announced the new rule, citing concerns over what the energy-intensive industry could mean for climate change and energy security.
Source: ExpressNews - 🏆 519. / 51 Read more »