The AI Act - What costs for SMEs?

The EU’s Artificial Intelligence (AI) Act is the first legal framework on AI. It aims to provide developers, deployers and users with clear guidelines on the development and use of AI. It also aims to reduce administrative and financial costs for small and medium-sized enterprises (SMEs) and encourage investment and innovation in AI. But for cost-conscious SMEs, there is a fine line striking the right balance between regulation and innovation.European Digital Innovation Hubs (EDIHs) could play a role in reducing the cost of adoption of the AI Act for SMEs. EDIHs aim to support companies to respond to digital challenges and become more competitive. They can provide technical expertise and testing, and stir digital transformation, while supporting conformity assessment. This can in turn create a network of EDIHs with their own specialisations in certain markets and areas of application and lead to achieving economies of scale and scope.Relisten to this EURACTIV Hybrid Conference to find out how the AI Act can support a thriving economy for SMEs and what the implications of the AI Act are for this sector. Can a trustworthy and innovative AI ecosystem be designed? And can the costs for SMEs actually be lower thanks to the AI Act?