As the EU’s AI Act prepares to come into force tomorrow, industry experts are weighing in on its potential impact, highlighting its role in building trust and encouraging responsible AI adoption.
Curtis Wilson, Staff Data Engineer at Synopsys’ Software Integrity Group, believes the new regulation could be a crucial step in addressing the AI industry’s most pressing challenge: building trust.
“The greatest problem facing AI developers is not regulation, but a lack of trust in AI,” Wilson stated. “For an AI system to reach its full potential, it needs to be trusted by the people who use it.”
This sentiment is echoed by Paul Cardno, Global Digital Automation & Innovation Senior Manager at 3M, who noted, “With nearly 80% of UK adults now believing AI needs to be heavily regulated, the introduction of the EU’s AI Act is something that businesses have been long-waiting for.”
Both experts emphasise the Act’s potential to foster confidence in AI technologies. Wilson explained that while his company has implemented internal measures to build trust, external regulation is equally important.
“I see regulatory frameworks like the EU AI Act as an essential component to building trust in AI,” Wilson said. “The strict rules and punishing fines will deter careless developers and help customers feel more confident in trusting and using AI systems.”
Cardno added, “We know that AI is shaping the future, but companies will only be able to reap the rewards if they have the confidence to rethink existing processes and break away from entrenched structures.”
The EU AI Act primarily focuses on high-risk systems and foundational models. Wilson noted that many of its requirements align with existing best practices in data science, such as risk management, testing procedures, and comprehensive documentation.
For UK businesses, the impact of the EU AI Act extends beyond those directly selling to EU markets.
Wilson pointed out that certain aspects of the Act may apply to Northern Ireland due to the Windsor Framework. Additionally, the UK government is developing its own AI regulations, with a recent whitepaper emphasising interoperability with EU and US regulations.
“While the EU Act isn’t perfect, and needs to be assessed in relation to other global regulations, having a clear framework and guidance on AI from one of the world’s major economies will help encourage those who remain on the fence to tap into the AI revolution,” Cardno explained.
While acknowledging that the new regulations may create some friction, particularly around registration and certification, Wilson emphasised that many of the Act’s obligations are already standard practice for responsible companies. However, he recognised that small companies and startups might face greater challenges.
“Small companies and start-ups will experience issues more strongly,” Wilson said. “The regulation acknowledges this and has included provisions for sandboxes to foster AI innovation for these smaller businesses.”
However, Wilson notes that these sandboxes will be established at the national level by individual EU member states, potentially limiting access for UK businesses.
As the AI landscape continues to evolve, the EU AI Act represents a significant step towards establishing a framework for responsible AI development and deployment.
“Having a clear framework and guidance on AI from one of the world’s major economies will help encourage those who remain on the fence to tap into the AI revolution, ensuring it has a safe, positive ongoing influence for all organisations operating across the EU, which can only be a promising step forwards for the industry,” concludes Cardno.
(Photo by Guillaume Périgois)
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By AI News, July 31, 2024.
