EU AI Act Standardization: Balancing Innovation, Compliance, and Competition
The EU AI Act, a landmark regulation, seeks to govern the development and deployment of artificial intelligence through technical standards. These standards aim to translate the Act’s principles into actionable steps for businesses, addressing areas like risk management, data governance, and transparency. Key challenges include defining these standards effectively, ensuring broad stakeholder participation (especially for SMEs), and managing the costs associated with compliance. Successful operationalization of these standards is crucial for boosting EU competitiveness and fostering innovation while safeguarding fundamental rights, but timeline pressures and stakeholder imbalances threaten to create market entry barriers, necessitating policy adjustments for a fair and effective AI ecosystem.