Erica explores the introduction of the European Artificial Intelligence Act (AI Act) July 2024 and urges companies operating within or doing business with the EU to act now.
The EU AI Act 2024 is a pioneering regulation created to oversee the use of AI systems within the EU. It classifies AI applications according to their risk levels, from minimal to unacceptable risk, and imposes corresponding requirements to ensure safety, transparency, and accountability.
Take note of this point: understanding and adhering to these classifications and requirements is crucial for companies operating within or doing business within the EU. Businesses must adapt swiftly to comply with the new regulations and stay competitive and innovative.
This regulation is not just legislation; it’s a call for organisations to elevate their AI literacy and skills. The Act resonates beyond the boundaries of the European Union, influencing global markets and international corporations, including those in the UK.
There is a need for AI Literacy beyond basic understanding.
AI literacy encompasses the ability to interact effectively with AI, grasp its capabilities and limitations, and make informed decisions about using AI.
For businesses, AI literacy is now a necessity rather than a luxury. This need stems from several key considerations:
Investing in AI literacy ensures compliance with the AI Act and equips your teams with the skills necessary to drive future innovation and success.
Enhancing AI literacy across your organisation is a strategic initiative that involves multiple stages. Here are my six steps to help you get started:
Begin by evaluating your organisation’s existing level of AI understanding and capabilities. This assessment should identify gaps in knowledge and help tailor the educational programmes to meet specific needs.
Create a skills-based programme tailored to different roles within your company. This should cover:
Promote a culture that embraces AI through regular knowledge-sharing sessions, AI-focused discussions and encouragement of employee-led AI initiatives. This cultural shift is essential for sustaining long-term AI literacy and innovation. It’s not just an IT or L&D thing!
Collaborate with thought leaders such as tech firms and professional training providers to access expert knowledge and resources. These partnerships can provide advanced AI training and insights that aren’t available in-house.
AI is a rapidly evolving field. Establish mechanisms for ongoing education and updates on AI developments. This could include subscriptions to AI journals, regular training refreshers and attendance at AI conferences and seminars.
Regularly review the impact of AI training and learning on your business operations and compliance. Adjust these based on feedback and evolving business needs.
I cannot stress enough the need for you to act now – for organisations to enhance their AI capabilities responsibly and effectively. As AI redefines industries, the readiness to adapt and learn will distinguish the leaders from the followers.
We offer dedicated support and direction with our AI for the Average Joe service designed to make the complex world of AI accessible to everyone. Contact us to find out how we can support your organisation, strategically and practically.
This article was originally written for TrainingZone using ChatGPT4o to support some of the writing.
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