The new EU AI Act is now in effect, and it’s changing how businesses must handle AI technology. Arnoud Engelfriet, an expert in AI compliance and author of AI and Algorithms: Mastering Legal and Ethical Compliance, explains what this law means for companies and how they can stay compliant.

What is the EU AI Act?

Starting in August 2024, the EU AI Act sets out rules for how AI systems should be developed and used. The law rolls out in stages over the next year, giving businesses time to adapt. Engelfriet says that while some worry this might limit innovation, the act is designed to allow new technology to be tested safely before it hits the market.

How Does the AI Act Affect Innovation?

The AI Act focuses on making AI systems trustworthy. This means AI should be legal, reliable, and ethical. Engelfriet explains that while the act might seem like a hurdle, it actually helps businesses by making sure AI is safe and dependable. “Innovation and compliance have always been a tricky balance,” he says, “but this act’s flexible rules can help manage both.”

Ethics in AI

The AI Act also deals with the ethical side of AI. It aims to prevent bias and ensure data protection. Engelfriet notes that while the idea of trustworthy AI is still developing, the act provides a clear framework to follow. Businesses must make sure their AI systems do not cause harm and are transparent about how they work.

The Role of AI Compliance Officers

With the new rules, many businesses are turning to AI compliance officers for help. These experts make sure companies understand and follow the AI Act’s requirements. Engelfriet’s firm, ICTRecht, offers a course to help employees learn about AI compliance. This training is open to anyone, not just those with a background in AI.

Looking Ahead

The EU AI Act could set the standard for future AI regulations, similar to how GDPR changed data protection practices. Engelfriet believes that getting ahead of these rules is crucial for businesses to stay competitive and responsible.

For more information on the AI Act and how to comply, check out AI and Algorithms for a detailed look at the law and practical advice for businesses.