The European Union has released guidance on defining AI systems under its AI Act, which regulates artificial intelligence applications. The risk-based framework was established last summer, with initial compliance deadlines now in effect. Key challenges for developers include determining whether their software falls under this act, as non-compliance could result in fines reaching 7% of global annual turnover. The guidance, while detailed, is non-binding and will evolve with practical experiences and emerging use cases, reflecting the dynamic nature of the AI industry.
The European Union's guidance on AI systems under the new AI Act provides a framework crucial for AI developers to understand compliance and avoid substantial fines.
With fines up to 7% of global turnover for violations, companies must closely examine the detailed yet non-binding 13-page guidelines issued by the Commission.
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