The AI Act is an all-encompassing regulation defining the usage of AI systems within the European Union. Any cmpany that deploys or brings to market a 'high-risk' AI system must ensure compliance withthe EU AI Act.
With an expected enforcement period beginning as soon as spring 2024, businesses need to act swiftly. A grace period, typically 12 to 24 months, is likely to be given for implementation of the AI Act.
However, it's crucial for AI companies to minimise barriers to entry within the EU. A 'high-risk' AI system without the obligatory CE mark and registration in the central EU database will find it challenging to sell its solution and establish itself in the EU market, even during the grace period.
Watch Palqee's CEO, Sabrina Palme, sharing her insights on the impact of the EU AI Act for start-ups and investors.