Now that the European Parliament has approved the EU AI Act, you should understand how the broad AI regulation affects your business.

First, identify your role in the AI value chain as a provider, deployer, distributor, manufacturer, or importer of AI systems. Next, determine the risk level your AI system poses, with four main categories laid out in the regulation: unacceptable, high, general-purpose AI, or limited. 

High-risk AI systems, which pose significant risk of harm to people’s health, safety, or fundamental rights, will face the bulk of regulatory requirements. They must, for instance, pass a conformity assessment before being placed on the EU market.