Future-proof your organization for the EU AI Act
The forthcoming EU AI Act promises to be the most consequential global regulation for AI to date, impacting businesses of all sizes around the world. Start preparing now.
What is the EU AI Act?
The EU AI Act sets a global precedent in AI regulation, emphasizing human rights in AI development and implementation of AI systems. While the eventual law will directly apply to EU countries, its extraterritorial reach will impact global businesses in profound ways. Global businesses producing AI-related applications or services that either impact EU citizens or supply EU-based companies will be responsible for complying with the EU AI Act. Failure to comply with the Act can result in fines up to 7% of global turnover or €35m for major violations, with lower penalties for SMEs and startups.
Importantly, the AI Act applies a tiered compliance approach, requiring each AI system to be classified as Unacceptable, High, Limited, and Minimal Risk. The compliance obligations scale with each tier.
Key Requirements of the EU AI Act
AI Inventory & Risk Assessments
Centralized inventory of systems with corresponding risk assessments per use case to identify potential issues, with mandatory steps implemented to mitigate these risks.
General-Purpose AI Transparency
General Purpose AI is subject to specific transparency obligations, ensuring clear documentation and user awareness when interacting with AI.
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High-Risk AI Compliance
High-risk AI systems are mandated to undergo rigorous risk assessments to ensure they align with fundamental EU rights and regulations.
AI with Systemic Risk
AI models with significant impact require deeper risk assessments, model evaluations, adversarial testing, incident reporting, mandatory labeling of AI-generated content.
Mandatory AI Registration
High-risk AI must be documented in an EU-wide database, emphasizing the need for risk management and quality control systems.
Strict Penalties for Violations
Penalties reach up to 7% of global turnover or €35 for violations, and an EU 'AI Office' along with individual complaint mechanisms ensure strict enforcement and governance.
Navigate the EU AI Act with Trustible
AI INVENTORY
Centralize EU AI Act required documentation in a single
source of truth across AI use cases
RISK MANAGEMENT
Assign EU AI Act-defined Risk Levels to determine
relevant requirements
REPORTING
Automatically prove conformity with specific
EU AI Act requirements
FAQs
What is the status of the EU AI Act?
A political deal on the EU AI Act was achieved by the European Parliament and the Council of the EU on December 8, 2023. The formal adoption is anticipated early in 2024, followed by a 2-year overall enactment phase. Prohibited AI systems will have a 6-month adoption period, and general-purpose AI rules will have a 12-month period before the Act's regulations come into force.
What AI systems classify as "high-risk"?
The EU AI Act provides a list of use cases that qualify as high-risk in Annex II of the Act. Those include AI systems used for biometric identification systems, biometric categorization, employment and employee management, accessing essential services (i.e., healthcare), accessing government benefits, determining creditworthiness, accessing health or life insurance, certain law enforcement activities (e.g., accessing whether a person is likely to be the victim of a crime), immigration-related activities, administering justice, and elections.
How should I prepare for the EU AI Act?
Compliance with the EU AI Act takes a phased approach. The provisions on prohibited AI systems will come into effect 6 months after the Act enters into force. Provisions pertaining to general purpose AI systems will come into effect 12 months after the Act enters into force, while provisions related to high-risk AI systems will apply being 36 months after the Act enters into force. The expected timeline for compliance would being by the end of 2024, with the Act coming into full effect by the mid-2027.
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