March 13, 2025
On 1 August 2024, the European Artificial Intelligence Act (AI Act) entered into force.
Starting February 2, 2025, the EU AI Act requires organisations in the European market to ensure
employees involved in AI use and deployment have adequate AI literacy.
The provisions in relation to general-purpose AI will come into effect on 2 August 2025.
The EU AI Act applies to providers, importers, distributors, and users of AI systems placed on the market or put into service in the EU.
The EU AI Act applies to data and information used in Artificial Intelligence (AI) systems that are placed on the market or put into service within the European Union.
This includes data used to train AI models, data used to generate outputs, and personal data if processed by the AI system.
Essentially, any data used in an AI system that could potentially pose a risk to individuals or societywithin the EU is subject to the Act's regulations.
The EU AI Act's fines for non-compliance can range from €7.5 million to €35 million, or a percentage of a company's annual turnover (e.g. up to 7%), depending on the violation.
RookMay has been supporting all types of businesses with their information compliance and data governance requirements.
RookMay has developed a straight-forward 12 step guide to complying with the AI Act. Please contact us: contact@rookmay.com for further details and receive our free whitepaper.
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