As artificial intelligence (AI) continually reshapes industries, attorneys advising corporate clients must adapt to an evolving regulatory landscape. With the impending enforcement of the EU AI Act, legal professionals need to be proactive in ensuring compliance while anticipating similar regulations domestically.
The EU AI Act, set to take effect on August 1, 2024, introduces a phased approach over two years to safeguard health, safety, and fundamental rights from AI-induced harm. This regulation classifies AI systems into four risk levels—unacceptable, high, transparency, and permitted/no risk—that dictate varying compliance requirements.
Given the broad scope of the EU AI Act, covering any AI system with a presence in the EU, attorneys must diligently map and monitor all AI technologies their clients employ. Incorporating existing frameworks like the NIST AI Risk Management Framework can be instrumental for this process, providing a basis for developing robust AI compliance programs.
Resources such as the European Commission’s AI Question & Answer briefing, which distills the key elements of the legislation, are invaluable tools. Moreover, legal professionals should assist clients in drafting AI policies, creating training programs, and preparing compliance budgets for 2025.
In the U.S., the legislative landscape is equally dynamic, exemplified by recent enactments like the Utah AI Policy Act and the Colorado AI Act. These acts, focusing on transparency and risk mitigation, indicate a trend towards stringent AI governance, mirroring aspects of the EU AI Act.
For comprehensive guidance on navigating these regulatory waters, attorneys can refer to insights from experts like Kassi Burns, a senior attorney at King & Spalding, who elaborates on AI governance in her discussions with Olga V. Mack. As Burns advises, staying educated on AI technologies and their legal implications is crucial, as is leveraging networks and expertise to tackle complex compliance issues.
For more insights and resources on AI compliance, visit the original article on Above the Law.