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Course Details

This CLE webinar will provide an overview of the European Union's (EU) highly anticipated, landmark Artificial Intelligence Act (AI Act) and its extraterritorial impact on U.S. companies. The panel will discuss the AI Act's scope, risk-based approach, application, enforcement, penalties, timeline for implementation, and steps U.S. businesses need to take now to ensure compliance.

Faculty

Description

The AI Act was published on July 12, 2024, and will take effect on Aug. 2, 2024, with most provisions becoming applicable after two years. The AI Act is considered the world's first comprehensive legal framework for AI and is expected to have far-reaching implications beyond the EU and will likely shape future regulation of AI in the coming years.

According to the European Commission Report, the AI Act aims to establish a "comprehensive legal framework on AI worldwide" for "foster[ing] trustworthy AI in Europe and beyond, by ensuring that AI systems respect fundamental rights, safety, and ethical principles and by addressing risks of very powerful and impactful AI models." The AI Act generally provides for EU-wide rules on data quality, transparency, human oversight, and accountability.

The AI Act establishes a set of risk-based rules applicable to all parties and roles in the AI ecosystem including developers, exporters, importers, deployers, and distributors. The most significant responsibilities fall on providers (those that develop AI or put it into the market) and deployers (companies under whose authority the AI system is used, including employers) based on the potential level of risk that results from the AI.

Listen as our authoritative panel explores the AI Act's regulatory framework, summarizes key points U.S. organizations need to understand, and provides practical steps for ensuring future compliance with this highly complex regulatory framework.

Outline

  1. Overview and background of the AI Act
  2. Scope and definition of AI
  3. Affected entities in the AI ecosystem or supply chain
  4. Extraterritorial effect of the AI Act beyond the EU market
  5. AI Act's risk-based approach
  6. Limited exemptions for free and open-source AI models
  7. Governance and enforcement
  8. Penalties for noncompliance
  9. Interaction with data protection laws: GDPR
  10. Timeline for implementation of the AI Act
  11. Next steps for impacted organizations

Benefits

The panel will review these and other key issues:

  • How do the terms and requirements of the AI Act apply to U.S.-based companies?
  • What are steps U.S. organizations need to start taking now to ensure compliance with the AI Act?
  • What parties in the AI lifecycle are impacted by the AI Act and what are their compliance obligations?
  • What are the penalties for failing to comply with the AI Act?