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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 8 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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This summer, the European Union and Colorado passed significant legislation regarding the regulation of artificial intelligence (AI), and other U.S. states, including California, have similar laws working through the legislative process. These regulations aim to establish consumer protections and ethical standards for AI systems, particularly those posing high risks to health, safety, or fundamental rights. Although many compliance deadlines are years away, these laws provide a roadmap for organizations to start evaluating and incorporating AI and generative AI (GAI).

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Both the EU AI Act and the Colorado AI Act use a risk-based approach to regulate AI systems, applying different obligations based on potential harms. The EU AI Act identifies high-risk AI systems in use cases including, among others:

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Similarly, the Colorado AI Act regulates high-risk AI uses that influence consequential decisions, including those related to:

To comply with these laws, companies developing or deploying AI systems will need to adhere to requirements such as developing risk management policies, protecting data, and documenting potential risks. These compliance measures are complex and time-consuming, and being proactive allows companies to systematically address the obligations without an impending deadline. While most compliance deadlines for high-risk AI systems are set for 2026, companies can start preparing now, as doing so provides them with a competitive advantage, by both building trust internally as well as showing a strong public commitment to high ethical and compliance standards.

By beginning preparations now, companies can navigate the regulatory complexities of AI regulation more effectively, integrate ethical standards into their AI processes, and gain a competitive advantage. When the 2026 deadlines arrive, companies will not only be compliant, but also well-positioned to leverage AI and GAI both ethically and responsibly.

https://admin.thompsonhine.com/wp-content/uploads/2024/09/Thompson-Hine-Newsletter-Business-Law-Update-September-2024.pdf

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This article may be reproduced, in whole or in part, with the prior permission of Thompson Hine LLP and acknowledgement of its source and copyright. This publication is intended to inform clients about legal matters of current interest. It is not intended as legal advice. Readers should not act upon the information contained in it without professional counsel.

This document may be considered attorney advertising in some jurisdictions.

Compliance-Forward Approach to Developing and Deploying AI and GAI

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