Essential Info: EU's Artificial Intelligence Act, Key Points to Know

Published Date: 9/09/2024

The European Union's new artificial intelligence law is set to revolutionize the way businesses use and develop AI. Find out what this means for your company.

The European Union has published its highly anticipated Artificial Intelligence Act, which is set to have a significant impact on businesses that use and develop artificial intelligence. In an article published in the Journal of Robotics, Artificial Intelligence & Law, Ana Hadnes Bruder and Oliver Yaros summarize the key points and recommendations for businesses that will potentially fall under the scope of the new law.

The EU's Artificial Intelligence Act is a comprehensive piece of legislation that aims to promote the development and use of artificial intelligence while also ensuring that it is used in a responsible and transparent manner. The law sets out a number of requirements for businesses that use and develop AI, including the need to ensure that AI systems are transparent, explainable, and fair.

One of the key aspects of the law is the requirement for businesses to conduct risk assessments on their AI systems. This involves identifying potential risks and taking steps to mitigate them. Businesses will also be required to keep records of their AI systems and make them available to regulatory authorities upon request.

The law also sets out rules for the use of high-risk AI systems, such as those used in healthcare and finance. These systems will be subject to additional requirements, including the need for human oversight and the use of robust testing and validation procedures.

The EU's Artificial Intelligence Act is set to come into force in the near future, and businesses that use and develop AI need to be prepared. This includes ensuring that they have the necessary systems and processes in place to comply with the law, as well as providing training to employees on the use of AI.

In conclusion, the EU's Artificial Intelligence Act is a significant development for businesses that use and develop AI. While it may require some adjustments, the law has the potential to promote the responsible use of AI and ensure that it is used for the benefit of society.

Mayer Brown is a global law firm that provides a range of services to businesses, including advice on artificial intelligence and technology law. With a team of experienced lawyers, Mayer Brown is well placed to help businesses navigate the complexities of the EU's Artificial Intelligence Act.

The European Union's Artificial Intelligence Act is a comprehensive piece of legislation that aims to promote the development and use of artificial intelligence while also ensuring that it is used in a responsible and transparent manner. The law sets out a number of requirements for businesses that use and develop AI, including the need to ensure that AI systems are transparent, explainable, and fair.

Mayer Brown is a distinctively global law firm, uniquely positioned to advise the world’s leading companies and financial institutions on their most complex deals and disputes. We have deep experience in high-stakes litigation and complex transactions across industry sectors, including our signature strength, the global financial services industry.

FAQS:

Q: What is the EU's Artificial Intelligence Act?

A: The EU's Artificial Intelligence Act is a comprehensive piece of legislation that aims to promote the development and use of artificial intelligence while also ensuring that it is used in a responsible and transparent manner.

Q: What are the key requirements of the law?

A: The law sets out a number of requirements for businesses that use and develop AI, including the need to ensure that AI systems are transparent, explainable, and fair.

Q: What is the impact of the law on businesses?

A: The law will require businesses to make adjustments to their AI systems and processes, including conducting risk assessments and keeping records of their AI systems.

Q: When will the law come into force?

A: The law is set to come into force in the near future, although the exact date has not been confirmed.

Q: How can businesses prepare for the law?

A: Businesses can prepare for the law by ensuring that they have the necessary systems and processes in place to comply with the law, as well as providing training to employees on the use of AI.

More Topics :