⏳ Countdown to EU AI Compliance for Small Businesses | #podcast #ai #governance #compliance

In the rapidly advancing domain of artificial intelligence (AI), businesses are navigating through an era of transformative change, driven by evolving regulations and governance standards. Harry Xu, CEO and Co-Founder of BreezeML, emphasizes the critical importance for small businesses to become well-informed about AI regulations and to ensure compliance with legal standards. The EU has established stringent AI regulations scheduled to take effect between 2025 and 2026, offering companies a transitional period to adjust their operations accordingly. Non-compliance with these regulations upon their enactment could result in substantial financial penalties, potentially amounting to up to 8% of global revenue. These insights serve as a pivotal reminder for small businesses to proactively prepare for these upcoming legal requirements. By doing so, businesses can avoid significant fines and ensure their AI practices are in line with future technological advancements and regulatory expectations.

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