In August 2024, the European Union officially launched its AI Pact, a significant step towards compliance with regulation on AI systems and ensuring the responsible use of AI. This voluntary framework is part of a broader initiative to help businesses prepare for the upcoming EU AI Act. With the AI Act gradually taking effect over the next three years, the AI Pact serves as an early compliance tool for organizations as it is closely aligning with the new AI regulation. Companies actively commit to key actions to drive AI governance and promote responsible and ethical AI within their organizations.
What are the “AI Pact Voluntary Pledges”?
The AI Pact asks participating companies to commit to several key actions to responsibly adopt and govern AI. These include:
- Establishing an AI governance strategy to guide their AI adoption and ensure compliance readiness for the EU AI Act.
- Identifying and mapping (high-risk) AI systems, which could be regulated under the AI Act.
- Promoting AI awareness and literacy within their organizations to foster ethical AI development.
Moreover, additional commitments to human oversight, risk mitigation, and transparency in labelling of AI-generated content were signed by more than half of the participating organizations, including trail. You can read into the pledges here.
By taking these steps, companies position themselves ahead of the regulation, making sure their AI applications currently under development or use can be operated as soon as the respective obligations of the EU AI Act are in force.
What does signing the AI Pact mean for organizations?
Signing the AI Pact is a proactive move for businesses aiming to align with the core principles and obligations of the EU AI Act. It signals a commitment to ethical AI practices and risk management, while creating a network of thought-leaders to share knowledge and best practices in achieving common goals. Companies that joined the Pact included major players, both tech and non-tech, like Nokia, Microsoft, Amazon, IBM, Accenture, Booking.com.
Participating in the AI Pact demonstrates leadership in responsible AI governance, providing a clear path to meet the regulatory requirements of the EU AI Act.
trail is one of the first companies (over 120 have joined) to sign the AI Pact, positioning us at the forefront of responsible and trustworthy AI in the future. We are happy to contribute to this mission with our expertise and AI governance platform!
