AI Developers Must Pay Attention to EU’s Proposed AI Act, Says Schildkraut
Peter Schildkraut, co-leader of the firm’s Technology, Media & Telecommunications industry group, was quoted in the Bloomberg Law article, “EU Poised to Enact Sweeping AI Rules With US, Global Impact.” The article discusses the European Union (EU)’s proposed AI Act, its soon-to-be-adopted risk-based regulation of artificial intelligence. The European Parliament is scheduled to vote on the legislation on March 13, 2024.
U.S. companies need to pay attention to the AI Act, which applies not only to European companies but also to non-EU companies that sell AI systems or the output of AI systems into the EU. Given the size of the European market, the AI Act will have a significant effect on how companies worldwide develop and deploy AI systems. Schildkraut told Bloomberg Law that if AI developers “don’t pay attention to [the Act’s] requirements now, the systems they are developing may not be allowed into the EU market and they may have to redevelop the systems in compliance, potentially even from scratch.” Likewise, U.S. (and other non-EU) companies that may wish to send output from the AI systems they use into the EU may run into trouble if their systems or operations are noncompliant.
