What are the current regulations on algorithms in AI?

What are the current regulations on algorithms in AI?

Currently, regulations vary by country. The EU has proposed the AI Act, which aims to ensure AI systems are safe and respect fundamental rights.

How does the AI Act impact companies using algorithms?

The AI Act requires companies to assess risks associated with their algorithms and ensure transparency, especially for high-risk applications.

Are there any penalties for non-compliance?

Yes, companies that fail to comply with the regulations can face significant fines, potentially up to 6% of their global annual revenue.

What are some examples of high-risk AI applications?

High-risk applications include facial recognition, biometric identification, and systems used in critical infrastructure or healthcare.

How can companies prepare for these regulations?

Companies can start by conducting audits of their AI systems, ensuring transparency, and implementing ethical guidelines for algorithm use.