If you’re looking to develop or use an AI system in the EU, our series of fact sheets on the AI Act will help you understand this important new law and how it might apply to you and your business.
In collaboration with the team at Te Pokapū Auaha Callaghan Innovation, Simply Privacy has developed a set of fact sheets on the European Union’s Artificial Intelligence Act (the EU AI Act). They’re designed to be an accessible guide to this complex legislation, helping Kiwi businesses understand when and why it applies and what they need to do to comply.
What is the AI Act?
The AI Act is a legal framework for regulating the development and use of AI systems in Europe. As the world’s first comprehensive and targeted AI law, it is expected to set a global standard for regulating the potential harmful effects of AI. It takes a risk-based approach and introduces very large fines for compliance failures. Check out this overview of the AI Act’s key features.
Who cares, we’re based in NZ!
Like Europe’s General Data Protection Regulation (GDPR), the AI Act has extra-territorial effect. This means that as well as applying to organisations based in the EU, the AI Act will also apply to Kiwi organisations selling AI systems to European customers or where they use AI in a way that will impact people in Europe. Fact sheet 2 looks at the scope and application of the AI Act.
What do I need to be aware of?
Each fact sheet looks at a different aspect of this important new law. Starting with a general overview, the fact sheets then look at how and when the AI Act applies, which AI systems are banned, which are deemed to be “high-risk”, the rules for “General-Purpose AI systems” like generative AI and a final fact sheet looking at how to prepare.
What’s next?
The AI Act was officially published on 12 July 2024 and has a staggered implementation over the next 36 months. It looks set to shape the world of AI governance in the same way the GDPR influenced the world’s approach to privacy.
Even if you’re not likely to be subject to the AI Act, fact sheet 6’s focus on “How to prepare” is likely to be relevant. It explores how the best foundation for using AI is developing your own approach to AI governance, often called a “Responsible AI framework”. This won’t just help you mitigate potential risk and meet your legal obligations – it will also help protect your company’s reputation and trust, produce better performing AI and ultimately foster further innovation.
We cover the AI Act and a lot more besides in our popular AI Governance Professional course that we deliver as an Official Training Partner of the IAPP. Our last two courses have sold out and the next course in September is already filling up fast. Get in touch with Frith Tweedie for more details, if you’d like more information about the AI Act or if you just want to have a chat over coffee about how to develop your own Responsible AI framework.