EU AI Act Whitepaper
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- Author: [at] Editorial Team
- Category: Whitepaper
Table of Contents
With the AI Act coming into force in August 2024, companies are facing the challenge of making their AI systems transparent, explainable, and traceable. Similar to the introduction of the General Data Protection Regulation (GDPR) in 2018, this new regulation brings with it a lot of uncertainty. Companies must ask themselves how the provisions of the European AI Act will affect them specifically, and how they can ensure that their AI systems comply with the law. In our AI Act white paper, we take a detailed look at the new guidelines and explain the opportunities and challenges they present for companies and developers.
The Significance of the European AI Act
The EU AI Act is a European Union law regulating artificial intelligence. It introduces strict monitoring of the entire life cycle of an AI system, from development and manufacturing to use and distribution. The aim is to make all parties involved accountable. After three years of intensive discussions, the European Parliament approved the draft law on March 13, 2024, and it will enter into force on August 2, 2024. The EU AI Act takes a risk-based approach to the classification and regulation of AI systems and is the first regulation to introduce legally binding rules for both public and private actors.
Our analysis of the European Union's AI Act
The white paper is designed specifically for companies and institutions, provides comprehensive information, and covers the following points:
- Who is affected by the AI Act?
- Risk classifications and corresponding obligations
- Prohibited AI systems
- High-risk AI systems
- AI systems with transparency obligations
- AI systems for general use
- Penalties for non-compliance
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Key points of the AI Act
- Risk-based approach: The EU AI Act classifies AI systems according to their risk and regulates them accordingly. Systems with higher risk are subject to stricter requirements.
- Transparency and traceability: Companies must provide technical documentation explaining the decision-making logic of their AI systems.
- Uniform implementation: The AI Act is a stand-alone law that does not require additional national laws to enter into force. This minimizes the risk of differing national interpretations.
Challenges for companies
The introduction of the EU AI Act creates uncertainties similar to those caused by the GDPR. Companies are faced with several questions:
- How do the provisions specifically affect my company?
- How can I ensure that the AI systems my company already uses are compliant with the law?
- What should I consider when introducing new systems in the future?
Consulting and support from Alexander Thamm GmbH
Early analysis and documentation, as offered by Alexander Thamm GmbH [at], makes it much easier to comply with the provisions of the AI Act. This counteracts future penalties for non-compliance and builds trust with your customers and partners.
Our approach to advising your company includes:
- Consulting and training: We offer comprehensive training and consulting services to prepare your team for the new requirements.
- Use case evaluation & classification: We evaluate and classify your use cases to ensure their compliance with the guidelines of the AI Act.
- AI governance strategy: We develop a comprehensive AI governance strategy and provide a platform for managing and monitoring your AI use cases to facilitate compliance.
- Technical documentation: Our experts assist with technical implementation and the preparation of the necessary documentation.
Alexander Thamm GmbH is at your side to help you meet the complex requirements of the AI Act. Download our free white paper for detailed information and practical solutions. We are happy to answer any questions you may have and provide individual advice.
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