Understanding High-Risk AI in the EU AI Act

Navigating the complex landscape of AI regulations, like the EU AI Act, can feel overwhelming for managers. Yet, the stakes are high: failing to comply with these regulations, especially when dealing with **high-risk AI applications**, can lead to severe consequences, including fines up to €30 million or 6% of global annual turnover. Such applications—covering areas like hiring, credit assessment, and biometric identification—directly affect people's lives and must adhere to stringent standards. Beyond legal ramifications, non-compliance can damage your organization’s reputation, eroding trust and credibility in the marketplace. Research by Veale and Borgesius (2021) highlights that the EU AI Act, much…

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