Diving into the AI Act and the implication for boards

Understanding the EU AI Act, your responsibilities as a board and where to start in ensuring compliance and maximizing value.

Insights on understanding the EU AI Act

03 July 2024

On Monday, 24 June our webinar "Diving into the AI Act and the implication for boards" took place.

The European Union Artificial Intelligence (AI) Act is one of the leading AI regulations in the world. It provides a robust regulatory framework for AI applications and applies to any provider placing an AI product or service on the market within the EU and all deployers of those products and services in the EU.

The Act categorizes AI systems by risk, applies a consumer protection approach to AI products, and lays out extensive requirements and necessary safeguarding mechanisms for AI systems. Moreover, it establishes clear transparency obligations.

During this webinar we dived into following topics:

The AI Act and its legal implications

Heleen lauwers, Associate for KPMG Law

Urgency of preparation
- The time to understand and prepare for the AI Act is now.
Roles and responsibilities
- Understanding the different roles and responsibilities outlined in the AI Act is crucial for ensuring compliance.
Navigating legal intersections
- Understanding the intersection of the AI Act with existing legislation will enable organizations to streamline their efforts and meet their requirements more effectively and efficiently.
Consider director liability
- Directors should be mindful of potential liabilities and should review indemnification terms in their organization’s articles of association and their liability insurance policies.

AI Act | Compliance considerations

Mahault Piéchaud Boura, Manager Digital Risk Management for KPMG in Belgium

Purpose and Impact
- Intended purpose of a system and its impact on individuals drive the applicability of the AI act
Compliance fosters Trust
- Compliance can be used to foster trust
Granularity of obligations
- The compliance requirement are dependent on the risk qualification under the AI Act. Sturdy compliance framework is necessary to flexibly take compliance requirements
Continuous exercise
- Compliance and risk assessments are iterative processes and need to be monitored overtime.

Practical questions for Boards

Bart Van Rompaye, Head of AI for KPMG in Belgium

Balance risk and pursuit of value
Check the essential building blocks
- Your AI vision, ambition, risk appetite, strategy
Create visibility across the entire AI playing field
Work on knowledge and expertise
- Train everyone, also yourself, and fill gaps by partnering with externals

Relive the webinar

Diving into the AI Act and the implication for boards

During this webinar we provided insights on:

The AI Act and its legal implications
AI Act | Compliance considerations
Practical questions for Boards

If you missed the webinar or would like to revisit it, we invite you to watch the recording and download the slides.


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