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