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May 13th, 2024

#73. The EU AI Act explained – What it means for your business

  1. #73. The EU AI Act explained - What it means for your business Tech your Business Podcast 23:12

Businesses beware – the EU has enacted the world’s first comprehensive law regulating artificial intelligence called the EU AI Act. ⚠️ Failure to comply could mean devastating fines up to €30 million or 6% of global annual revenue!

In this critical breakdown, you’ll get a comprehensive walkthrough of the EU AI Act, including:

✅ The 4 risk classifications for AI systems and what’s allowed/prohibited
✅ Strict new rules for “general purpose” large language models like GPT
✅ Specific obligations for AI providers, deployers, and end-users
✅ How the new European AI Board will monitor and enforce compliance
✅ Costly penalties companies face for non-compliance

Ignorance of the Act’s requirements could lead to:

🚫 Products/services being banned for unacceptable risk violations
🚫 Crippling fines that derail your finances
🚫 Loss of consumer trust by failing transparency standards
🚫 Public relations nightmares from AI ethics controversies

But implementing the right practices now can future-proof your AI pipeline as other regions follow the EU’s lead. This video reveals the proven steps to assess your AI risk profile, fulfill documentation and testing duties, and restructure processes for alignment.

Don’t let avoidable AI compliance shortfalls put your entire operation at risk. Get ahead of this pioneering Act before enforcement ramps up!

Join our ⁠⁠⁠⁠⁠⁠⁠⁠⁠Facebook group⁠⁠⁠⁠⁠⁠⁠⁠⁠ to share and get solutions to the biggest Tech Challenges in your business! ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://web.facebook.com/groups/360336207849530⁠⁠⁠⁠⁠⁠⁠⁠⁠
Every week, your host, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Peter Banigo⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, an accomplished tech and business expert, brings you the latest insights and practical advice to help your business thrive in this digital age.
⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tech your Business⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ is brought to you by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Target ICT Ltd⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠, a leading provider of innovative tech solutions and consulting services dedicated to empowering businesses to reach new heights.
The ‘Tech Your Business’ podcast deciphers complex tech concepts, offering actionable takeaways to help businesses thrive in the digital age.
But that’s not all – we’re also opening the floor to you, our listeners. If you have a compelling story about how technology has transformed your business, or if you’ve navigated through cyber threats and want to share your experiences, we’d love to hear from you. Your journey could enlighten many other businesses tuning into this podcast and expose your brand.
With a wealth of experience and a passion for helping businesses succeed, we are your go-to resources for all things tech, business, and growth.
Don’t miss an episode – subscribe today and uncover the full potential of your business and if you’ve got a tech story to share, reach out to us – you could be our next guest.
Just sign up to our waitlist at ⁠⁠⁠⁠⁠⁠techyourbusinesspodcast.com/waitlist⁠⁠⁠⁠⁠⁠ Let’s explore the power of technology together.

Send in a voice message: https://podcasters.spotify.com/pod/show/techyourbusiness/message

Peter Banigo Entrepreneur & Podcast Host

I see myself as a very curious person and also a problem solver, This I believe is what led to my journey for almost a decade exploring different businesses in different industries.
My zone of genius has always been Technology and breaking down complex and this is all I do now, with my podcast - Tech your Business and also my business.

When I'm not doing that, I love to travel, read and take things apart (car, mobile phone, anything that catches my fancy).

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