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About the EU AI Act
The AI Act is a legal framework on AI, which addresses the risks of the technology through a comprehensive set of obligations and requirements, to safeguard the health, safety, and fundamental rights of EU citizens.
As the first of its kind, it aims to ensure the trustworthy development and use of AI by classifying applications based on risk and applies to companies placing AI systems on the EU market or companies whose system outputs are used within the EU.
Reasons to Comply
Understand the risks
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Regardless of whether you are a developer or deployer, there are fundamental rights which we agreed to protect in the EU and to ensure we can do so, we must be aware of the risk exposure we create.
Ensure or build trust
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By proactively sharing, assessing and managing AI risks, you can ensure the trust in your products, services or businesses is protected. And the chances are that a commitment to responsible AI usage will strengthen your brand reputation.
Avoid hefty fines
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Non-compliance with prohibited AI practices may result in fines of up to €35M or up to 7% of a company's annual turnover. Non-compliance with provisions concerning operators or notified bodies, may result in fines of up to €15M or up to 3% of a company's annual turnover.
And lastly, supplying incorrect, incomplete, or misleading information to notified bodies and national competent authorities in response to a request may lead to fines of up to €7.5M or up to 1% of a company's annual turnover.
Assess every AI system for its criticality and determine which classify as high-risk, limited risk or minimal risk.
Complete a short questionnaire to classify your systems correctly and understand special cases and exceptions (for example AI systems that are not classified as high-risk, but still need to be registered as such).
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Get Ready to Comply
In an effort to prepare organizations, QuantPi offers a Starter Pack with the necessary AI governance support to assess AI systems and provide preliminary regulatory compliance checks.
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Intuitive AI Inventory
Gain an overview of all AI systems within your organizations. Register all AI systems to maintain an overview of key information, such as, business owner, assessment status and risk exposure.
Risk Classification Questionnaire
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Breakdown of Compliance Criteria
Access all requirements for your high-risk systems in one place. Find compliance criteria for all relevant articles of the EU AI Act, broken down into a selection of tests (both manual and automatic) necessary to fulfill the requirements.
Document your compliance by uploading files for relevant compliance criteria or access automatically generated test reports for automatic tests. Keep your entire AI system records in one place and be ready for effortless reporting at any time.
Audit-Ready Reporting
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