Why businesses using AI should implement risk management protocols

Newly enacted European legislation could have just started the clock ticking for more AI-related regulations in the United States. The European Union (EU) AI Act was launched Aug. 1, 2024, and could have impacts in the U.S., which often closely trails Europe on cybersecurity and data protection matters.

Intended to provide a comprehensive standard for systems that use AI technology, the EU AI Act states that AI applications are to be classified according to the risk they pose to users. Although…