First impressions of the EU AI Act? What are your initial thoughts?
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Director of Data9 months ago
My view on the EU AI Act is that it is a significant step in AI regulation, aiming for safety and respect of fundamental rights. However key challenges include defining AI and categorising risks, with concerns over potentially broad classifications that might hinder innovation and cause legal uncertainties. The Act also needs clearer standards on transparency and model access for technology companies. Balancing innovation with ethical considerations will be crucial for the Act's effectiveness.CISO/CPO & Adjunct Law Professor in Finance (non-banking)9 months ago
It will drive additional regulations, every jurisdiction seeks to stay current. I posit that these subsequent regulations will follow either the EU AI Act or the NYSIF AI Risk Management Framework. Lawmakers tend to follow precedent when available.The financial impact of the law will depend upon how widely it is enforced. Additionally, the fines depend on the size of the organization, for example $40,000 is not impactful for a billion dollar company but 7% of gross annual revenue (turnover) is significant. The maximum penalty is greater than the General Data Protection Rule but the process of maintaining compliance is less clear.
Once there are some enforcement actions then the legal landscape will become clearer.
Security Architect in IT Services3 months ago
The EU AI Act is definitely a progressive approach to provide industries and professional a pointer can refer to when considering developing, acquiring and deploying AI technologies while balancing individual rights of privacy. One key takeaway is certainly keeping a robust risk management practice in place. CISO in Energy and Utilities2 months ago
The EU AI Act is shaking things up big time with its new rules to ensure AI tech is safe and ethical. This act categorizes AI systems by risk, banning the most dangerous ones and setting strict standards for high-risk applications like those in healthcare and finance. These standards demand top-notch data governance, transparency, and constant monitoring, which align perfectly with our cybersecurity principles. For businesses, this means stepping up their game with thorough documentation, regular assessments, and robust quality management to keep AI systems secure and reliable.What's also exciting is the creation of new bodies like the EU AI Office, which will oversee compliance and support innovation through regulatory sandboxes. This structured environment means adhering to AI standards is not just a legal must but a strategic win. Overall, the AI Act sets a high bar for AI deployment, pushing us towards more trustworthy and resilient AI technologies. It's all about balancing innovation with safety, and it's clear the EU is leading the charge in creating a more secure AI landscape.
Senior Data Scientist in Miscellaneous2 months ago
I observed it since the first version in 2021 by the EU commission. The criterias for a high-risk system have been narrowed significantly and the definition for AI has changed dramatically. That risk-based approach puts a very high effort on compliance fulfilment. In the preamble, it is mentioned, that classicalprogramminglogic is supposedto be exempted, but I can't get, whete to start separating AI from a computer program.