AI Act and Corporate Strategy: Navigating Regulatory Challenges and Opportunities
The episode delves into the European AI Act, set to take effect on August 1, 2024, outlining the obligations for companies developing or using artificial intelligence systems. It distinguishes between prohibited systems, high-risk systems, and low-risk systems, along with the associated penalties for non-compliance. Emphasis is placed on the importance of internal training (AI literacy) and the use of regulatory sandboxes as key tools for testing new applications while ensuring compliance and fostering responsible innovation. Finally, it highlights how aligning with the AI Act, though initially demanding, can become a significant competitive advantage for businesses.