What are the penalties for non-compliance with the EU AI Act?

What happens if a company doesn't comply with the EU AI Act?

Non-compliance with the EU AI Act can lead to significant penalties, including fines up to 6% of a company's global revenue.

Are there different penalties for different types of AI systems?

Yes, the penalties vary depending on the risk classification of the AI system, with higher risks facing stricter penalties.

Can individuals be penalized under the EU AI Act?

Typically, the penalties are directed at organizations, but individuals can face legal consequences if they are responsible for non-compliance.

How does the EU enforce these penalties?

The EU enforces penalties through regulatory bodies that monitor compliance and can initiate investigations and sanctions.

What should companies do to ensure compliance?

Companies should conduct risk assessments, implement compliance programs, and stay updated on regulatory changes to ensure adherence.