Fines for non-compliance with the EU AI Act can reach up to €35 million or 7% of global revenue. If your business uses AI in the EU or impacts EU citizens, you need to act now to meet these new regulations. Here's what you need to know:
- Identify Your AI Systems: List all AI tools, their functions, and classify them by risk level (high, limited, minimal).
- Meet High-Risk Requirements: High-risk systems (e.g., hiring tools, credit scoring) need safety checks, human oversight, and detailed records.
- Use Compliance Tools: Platforms like Diligent and Eyer.ai simplify risk checks, documentation, and real-time monitoring.
- Stay Transparent: Always disclose AI use and ensure systems are explainable.
Compliance tools like PwC's AI Compliance Tool and Eyer.ai help businesses automate logging, track risks, and avoid penalties. Regular updates and monitoring are crucial to stay aligned with evolving rules while minimizing operational disruptions.
Quick Tip: Start by auditing your AI systems and integrating compliance tools to avoid hefty fines and ensure smooth operations.
Breaking Down the EU AI Act and What It Means for Businesses
What Is the EU AI Act?
The EU AI Act is the world's first complete legal framework for regulating artificial intelligence. It sets clear rules to make sure AI systems are safe and respect people's basic rights.
Keith Fenner of Diligent calls it a "regulatory milestone" that puts safety and transparency first .
The rules apply to ANY AI system used in the EU or affecting EU citizens - it doesn't matter where the company is based. The Act splits AI systems into three main risk levels:
- High-risk
- Limited-risk
- Minimal-risk
Each level comes with its own set of rules and requirements.
Some AI uses are completely off-limits. For example, you can't use real-time biometric scanning in public spaces (except in very specific situations). The Act also bans AI systems that try to take advantage of kids or other at-risk groups.
Before diving into compliance, you'll need to figure out which category your AI systems fall into.
Steps Businesses Need to Take to Comply
Let's look at what you need to do to get your business ready for these new rules.
Start With the Basics First, figure out your company's role - are you making AI systems, using them, or importing them? Then, look at each of your AI tools and decide which risk category they belong to. Make sure to write down what each system does and who's in charge of it.
Keep Good Records Make a detailed list of all your AI systems and set up ways to track if they're following the rules. Tools like Eyer.ai can help automate this process. Document how well your systems work and keep records of all compliance checks.
Be Open and Watch Carefully Tell people when they're dealing with AI - no hiding it. For high-risk systems, make sure humans are watching and can step in when needed. When AI makes decisions, be ready to explain how and why.
Update Your Systems You might need to tweak your AI tools to meet the new standards. This could mean changing how your algorithms work, being more careful with data, or adding safety features.
Get Help When You Need It Team up with legal experts who know these rules inside and out. Work with AI specialists who can help with the technical side of things.
Take Siemens and Philips as examples - Siemens uses automated tools to keep track of system changes, while Philips has special platforms to manage all their compliance records.
AI Tools That Help Businesses Comply with the EU AI Act
Platforms for Managing AI Compliance
Companies need strong tools to handle EU AI Act compliance while keeping their operations running smoothly. Here's how some leading platforms are making this easier.
PwC's AI Compliance Tool brings technical teams, business units, and compliance experts together in one workspace. Here's a real example: A mid-sized European retailer used this tool for their product recommendation systems and cut their audit prep time by 40%. The platform covers everything from checking risks to classification and auditing - basically your one-stop shop for keeping AI projects in line with regulations.
Diligent's AI Act Toolkits make compliance straightforward with clear, step-by-step guidance. It's especially handy for bigger companies juggling multiple AI systems, as it puts all compliance work in one place and cuts down on manual checks.
These platforms lay the groundwork for compliance, but real-time monitoring is just as important. That's where tools like Eyer.ai come in.
Using Eyer.ai for Monitoring and Anomaly Detection
Eyer.ai offers a no-code solution that spots issues before they become problems. Here's what makes it stand out:
- Smart Problem Detection: A logistics company spotted a 15% efficiency drop in deliveries using Eyer.ai. The system pinpointed a problem with their routing algorithm and fixed it in just hours.
- Easy-to-Read Reports: Teams can plug Eyer.ai into Grafana to see how their AI systems are performing in real time. This means they can fix any compliance issues right away.
- Quick Setup with Other Tools: One financial services company hooked Eyer.ai up to their Azure system and automatically got alerts about serious issues. This cut down their manual checking work by 30%.
Small and medium-sized businesses often pick Eyer.ai because it's budget-friendly and can adapt to their specific needs.
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How to Add Compliance Tools to Your Business Processes
Want to stay on the right side of the EU AI Act while keeping your operations running smoothly? Let's look at how to add compliance tools to your business and why keeping them up-to-date matters.
Steps to Integrate Compliance Tools
Start by knowing what AI you're using. Make a list of every AI system in your company - what it does, what data it uses, and who's in charge of it. Then, sort these systems based on their risk level according to the EU AI Act (high, limited, or minimal). A German logistics company did this with their routing algorithms and found several high-risk systems that needed extra attention.
Next, pick tools that work well with what you already have. Take Eyer.ai - it's a no-code platform that works smoothly with Microsoft Azure and Boomi. When a Dutch e-commerce company connected Eyer.ai to Prometheus for spotting unusual patterns, they cut down their compliance delays by 25%.
Set up clear rules and get your team ready. Write down how you'll handle risks and problems, and make sure everyone knows what to do. A Spanish retail chain taught their IT teams how to use Eyer.ai, and it paid off - they now handle alerts 40% faster and avoid costly penalties.
The Importance of Regular Monitoring and Updates
Think of compliance tools like a car - they need regular maintenance to run well. Here's why keeping them in top shape matters:
When something goes wrong, you need to know fast. Eyer.ai proved this when it caught a 15% drop in delivery performance for a Scandinavian logistics company and fixed it within hours.
The EU AI Act isn't set in stone - it keeps changing. A French insurance company uses Diligent's tools and checks them every three months. This careful approach has cut their compliance risks by 30%.
Don't go it alone - work with legal and AI experts. With fines up to €35 million or 7% of revenue for high-risk systems, it's worth getting help to stay compliant.
Conclusion: Key Points and Next Steps for Compliance
"The EU AI Act represents a significant regulatory milestone to ensure AI systems are safe, transparent, and respect fundamental rights."
Getting your business ready for the EU AI Act doesn't have to be complicated. Let's break down what you need to do to stay compliant while giving your company an edge in the market.
Here's what your business needs to focus on:
Know Your AI Systems Inside and Out Make a list of every AI system you use and sort them by risk level (high, limited, minimal). Write down what each system does, where it gets its data, and who's responsible for it. Set up clear rules for how these systems should be managed.
Use the Right Tools Eyer.ai can help you keep track of everything and create compliance reports. It works well with platforms like Microsoft Azure and Boomi. Here's proof it works: A Dutch e-commerce company cut their compliance delays by 25% by connecting Eyer.ai with Prometheus for real-time tracking.
Keep Up With Compliance Check your systems regularly for any issues or biases. A French insurance company shows why this matters - they cut their compliance risks by 30% just by reviewing their systems every three months. Stay up to date with new rules and adjust your approach when needed.
Make Your Tools Work Better Get your tools working smoothly with your current systems. Train your teams so they know how to use these tools and follow compliance rules. Keep detailed records of everything you do to stay compliant.
What's Coming Next? The EU AI Act keeps changing, especially when it comes to general-purpose AI and what's not allowed. By following these steps, your business can:
- Build stronger relationships with customers and partners
- Stay ahead of competitors
- Meet all regulatory requirements
- Run more efficiently
Getting ahead of these requirements now puts your business in a better position for the future.
FAQs
What are the logging requirements for the EU AI Act?
The EU AI Act requires companies to keep detailed logs when they use high-risk AI systems in sectors like healthcare, employment, or critical infrastructure. Here's what you need to know:
Let's look at a real example: A German healthcare provider rolled out an AI diagnostic tool and set up a logging system that records every AI decision - from the data that goes in to the results that come out. They keep these logs for 12 months to meet both EU AI Act rules and Germany's strict medical data rules.
Companies don't have to handle this manually anymore. Tools like Eyer.ai connect with AWS and Google Cloud to create logs automatically, cutting down mistakes by 40%. This makes it much easier to stay within the rules while keeping operations running smoothly.
Here's the bottom line: If you don't follow these rules, you could face big penalties - we're talking up to €15 million or 3% of your yearly revenue . Setting up good logging systems isn't just about avoiding fines - it helps you track and understand how your AI makes decisions.
