Navigating the EU AI Act: flowchart

Generate an illustration with a 3:2 aspect ratio in a lively and optimistic style, reminiscent of animated movies. The main focus of this image is 'Navigating the EU AI Act.' Visualize a flowchart (decision tree) with various paths and stages mentioned in the article. Include labels like 'Committee vote,' 'Adoption,' 'Publication,' 'Entry into force,' 'Transition periods', 'Non-compliance', 'Fines', 'Regulatory investigations', and 'Market withdrawals.' The flowchart should guide organizations through potential changes in 'Business models', 'Product offerings', 'Technical processes', and 'Governance and compliance approaches.' To denote global significance, include symbolic icons for businesses and various global aspects.

The EU AI Act has been approved by EU Member States and is set to come into force after a series of stages. These stages include a Parliament Committee vote in mid-February, formal adoption around April 2024, publication in May/June 2024, and entry into force 20 days later. Transition periods will follow, with prohibitions after 6 months and high-risk obligations after 12 months. Non-compliance can result in significant consequences such as fines of up to €35m or 7% of global annual turnover, regulatory investigations, and market withdrawals. Organisations, both inside and outside the EU, need to navigate the AI Act, which can be complex and open to interpretation. To assist with this, a one-page flowchart decision-tree has been published to help identify key decisions and reference relevant sections of the AI Act. However, it is important to consult the latest version of the AI Act and seek legal advice for specific circumstances. Organisations may also need to comply with regulations in other jurisdictions, which may differ from their approach to the EU AI Act. Engaging with anticipated regulation early is crucial, as it may require changes to business models, product offerings, technical processes, and governance and compliance approaches. For further discussion on how regulations impact AI, individuals can contact Tom Whittaker, Brian Wong, or any member of the Technology team.

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