With the rise in artificial intelligence (AI) and machine learning technologies in recent years, the European Union (EU) has released their AI Act to address the increased demand for ethical guidelines and transparency in deploying these AI systems. This new act is the first comprehensive law regulating the use and development of AI, which, according to the European Commission (EC), aims to “foster trustworthy AI in Europe and beyond, by ensuring that AI systems respect fundamental rights, safety, and ethical principles and by addressing risks of very powerful and impactful AI models.” The AI Act introduces guidelines on deploying and using AI systems for large, small and midsize enterprises (SMEs) and startups. SMEs that are deploying or planning to deploy AI models or applications must learn how to navigate this new regulation.
Inside the AI Act
The EU AI Act, proposed in April 2021, …