The European Union has recently adopted the European AI Act, a groundbreaking piece of legislation that aims to regulate artificial intelligence systems. This act is comparable to the General Data Protection Regulation (GDPR), but specifically tailored for AI. In this blog post, we’ll explore what the European AI Act entails, how it impacts Pitches.ai, and the steps we are taking to ensure compliance.
What is the European AI Act?
The European AI Act is the world’s first legislation on artificial intelligence. It aims to establish legal definitions and guidelines for the development and deployment of AI systems. The Act categorizes AI systems into minimal/no-risk, limited risk, high-risk, and unacceptable risk, with different sets of regulations and obligations for each category.
For limited risk AI systems, such as text generators, the Act imposes additional transparency obligations. High-risk AI systems, on the other hand, are subject to more stringent requirements, including risk management, data governance, and technical robustness.
How Does the European AI Act Impact Pitches.ai?
Pitches.ai utilizes GPT-4, a generative AI technology, to create investment pitch decks. According to the European AI Act, our services fall under the "Limited risk AI systems" category. This means that we are subject to transparency obligations, which require us to clearly communicate to users that the content generated is created by an AI system.
As a company that values trust and transparency, it is imperative for Pitches.ai to comply with these regulations to continue providing services within the European Union.
Pitches.ai’s Roadmap to Compliance
At Pitches.ai, we are committed to adhering to the European AI Act. Our primary focus is on ensuring privacy and transparency for our clients. Here’s how we are doing it:
- Data Protection: We are taking steps to ensure that the data used by our AI system, GPT-4, is handled with the utmost care. We are complying with data protection laws such as GDPR, and ensuring that personal data is processed securely.
- User Consent: Before processing any data, we are obtaining explicit consent from our users. We are transparent about how their data will be used and give them the option to opt-out.
- Data Minimization: We are adhering to the principle of data minimization, ensuring that only the data that is absolutely necessary for generating pitch decks is processed.
- Clear Communication: We are implementing clear notifications within our platform to inform users that the pitch decks are generated by our AI system, GPT-4. This is to ensure that users are aware that they are interacting with content generated by AI.
- Openness About AI Systems: We are providing information about how our AI system works, the data it uses, and the logic involved in generating pitch decks. This is to ensure that users have a clear understanding of the AI processes.
- User Feedback Mechanism: We have established a feedback mechanism that allows users to provide feedback on the AI-generated content. This is an important aspect of transparency as it involves users in the AI process.
- Documentation and Record-Keeping: We are maintaining detailed records and documentation of GPT-4’s development, data sources, and operations. This is important for transparency and may be required for compliance verification.
Legal Consultation and Continuous Monitoring:
- Legal Consultation: We are consulting with legal experts familiar with the European AI Act to ensure that Pitches.ai is fully compliant with privacy and transparency requirements.
- Continuous Monitoring: We are continuously monitoring our AI system for compliance with the AI Act and making necessary adjustments as the legislation evolves.
Privacy and transparency are at the core of Pitches.ai’s values. We are proactively taking steps to ensure that our AI-generated pitch decks are created in a manner that respects user privacy and provides transparency in how AI is used. Through these efforts, we aim to build trust with our clients and create a responsible AI ecosystem.