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

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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.

 

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