Staying compliant with the new EU AI Act helps you stay competitive.
The AI Act is the world’s first comprehensive law regulating the use of AI in the European Union. Its goal is to guard people against the harmful use and effects of AI systems in the Union and protect their health, safety, and rights as outlined in the Charter, including democracy, the rule of law, and the environment.
The new EU AI Act promotes the growth of trustworthy AI by:
- Establishing EU-wide rules on how AI is implemented and used in the marketplace throughout the EU.
- Prohibiting certain AI practices that pose unacceptable risks like cognitive behavioral manipulation and social scoring
- Implementing specific requirements for high-risk AI systems and obligations for their operators
- Placing rules on market monitoring, market surveillance, governance, and enforcement.
Implications of Non-Compliance
Failure to comply with the EU AI Act can result in a range of legal, financial, and reputational penalties. The primary non-compliance risks include:
- Heavy fines and penalties for prohibited AI practices and violations like failing to meet transparency, documentation, or monitoring obligations.
- Operational disruptions due to the suspension or removal of non-compliant AI systems from the market.
- Reputational damage from violations can result in public backlash and loss of customer, partner, and stakeholder confidence.
- Increased scrutiny and oversight from regulatory bodies result in audits, legal investigations, and additional restrictions on future AI development and deployment.
- Loss of competitive advantage due to noncompliance that can lead to market share loss.
- Liability for harm due to AI systems found to have discriminated, caused privacy breaches, or caused physical damage.
- Limited or restricted access to the EU market due to noncompliance
Compliance Made Uncomplicated
Protect your business from penalties and reputational harm for failing to meet the new EU AI Act with Milestone’s Legislative Compliance Services (LCS). We partner with you to provide comprehensive strategic and tactical solutions to ensure full compliance with all applicable regulations. Our Legal Monitoring services help keep you informed of regulatory developments pertaining to AI that can impact your business.
Discover the compliance solution that makes adhering to the new EU AI Act uncomplicated. Contact Milestone today.
Planning
Assessing the applicability of the standard’s requirements as it applies to your organization and identify specific risk actions and guidelines.
Training & Education
Summarizing pertinent compliance obligations, helping establish best practices to maintain compliance, and tailored training sessions catered to the needs of your team.
Ongoing Support & Compliance
Assisting your organization with tailored compliance solutions that include continuous monitoring of regulatory updates and regulatory change management, external reporting and communications, and regulatory agency management.
Let's Get Started
Please fill out the form and one of our experts will reach out to help get you started on your path to compliance with this new legislation.
Why Milestone?
- Comprehensive Solutions: We offer a full suite of services tailored to your Environmental Health & Safety Services needs.
- Expertise: Our experienced team members ensure effective and efficient implementation of compliance measures.
- Customized Training: We provide tailored training sessions, catering to the unique needs of your team, available both in-person and online.
- Timely Compliance: We guarantee timely service delivery, ensuring your organization meets compliance standards as quickly as possible.
If you operate in the United States, you may also be required to comply with the latest EPA Mandate. As of May 28, 2024, qualifying facilities will be required by the EPA to develop a facility response plan for a worst-case discharge of Clean Water Act (CWA) hazardous substances or threat of such a discharge. With only 36 months left to achieve compliance read more about this mandate to see if it applies to your organization.
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