EU AI Act to Impact SMEs: Risk Assessment Mandatory for AI Systems
The EU AI Act, set to bring comprehensive regulation to the economy, is poised to impact many companies using AI in their daily operations. Small and medium-sized enterprises (SMEs) are particularly affected when deploying AI systems that pose certain risks. These include applications like AI-driven customer support chatbots, automated accounting, and smart manufacturing solutions.
Under the AI Act, companies must conduct a risk assessment of their AI systems and document it. This is crucial even for 'Limited Risk' systems, such as those used for automated sales processes or AI-based customer support via chatbot. High-risk AI systems, like those involved in biometric identification or employment decisions, require significant documentation, including training data and bias mitigation measures.
Philip Heider, AI expert at heyData, sees opportunities in the AI Act. He believes it will increase trust in AI applications and establish clear market standards. Companies must inform users if they are interacting with an AI, especially with voice call systems. To begin implementing the AI Act, companies should start by conducting an inventory of their AI systems and determining their risk class.
The EU AI Act is set to transform the AI landscape, with SMEs needing to ensure compliance with transparency, risk management, and data protection rules. By understanding and documenting the risk assessment process, companies can navigate this new regulatory environment and continue to leverage AI for growth and innovation.
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