The EU AI Act Is Here. Are You Ready?
The EU Artificial Intelligence Act (AI Act) is the world's first comprehensive AI regulation, establishing strict requirements for businesses developing or deploying AI systems in Europe. Non-compliance isn't just a legal risk—it's a business-critical issue.
Penalties for non-compliance are severe:
- •Up to €35 million or 7% of global annual turnover for prohibited AI practices
- •Up to €15 million or 3% of global annual turnover for violations of AI Act obligations
- •Up to €7.5 million or 1.5% of global annual turnover for providing incorrect information
Yet many businesses struggle to understand:
- ✓ Does the AI Act apply to their systems?
- ✓ What risk category do their AI systems fall into?
- ✓ What specific obligations do they need to meet?
- ✓ How to maintain ongoing compliance as regulations evolve?
Traditional compliance approaches are slow, expensive, and complex—requiring weeks of consultant time and significant resources that many SMEs and startups simply don't have.