How the EU AI Act Is Changing Business and Citizen Protection

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On the 7th of June, Dr. Galya Mancheva appeared on Bulgaria ON AIR to discuss the impact of the EU AI Act on business and citizen protection. In her capacity as board member of the Bulgarian Association of Information Technologies (BAIT), she explains how the European Union’s Artificial Intelligence Act will reshape business practices and enhance citizen protection. As one of the first comprehensive legal frameworks on AI globally, the Act introduces new standards that apply not only to companies within the EU but also to international businesses whose AI systems reach European users.

 

In the interview, Dr. Mancheva highlights how the new regulation brings the needed clarity by categorizing AI systems by risk and setting clear rules around transparency, safety, and accountability. She emphasises that the AI Act is not a barrier to innovation, but a foundation for building trust and ethical AI practices in the EU. Dr. Mancheva urges companies to move beyond fear and embrace AI, emphasizing that the EU AI Act is designed to ensure all stakeholders can benefit from AI in a safe and well-regulated environment. She emphasises the importance of business readiness, warning that many Bulgarian companies are still behind in adapting to the upcoming legal requirements. BAIT is working actively to raise awareness and help businesses align with the new standards.

 

Some of the consequences of failing to comply to the Act are also mentioned. The regulation allows for fines of up to €35 million or 7% of a company’s global annual turnover, depending on the nature and severity of the violation. But beyond the financial risk, Dr. Mancheva notes that companies also face reputational damage if they are found to be using AI irresponsibly.

 

A big focus of the interview is how the AI Act also plays a crucial role in protecting individuals. It guarantees that EU citizens have the right to know when they are interacting with AI and ensures their personal data is not being misused or exploited by black box algorithms. By banning the most dangerous applications and demanding transparency from high-risk systems, the regulation aims to build public trust in AI technologies.

 

Dr. Mancheva compares the regulation to simple traffic rules. “If we want to have many cars on the road,” she said, “we need clear rules that protect both drivers and pedestrians. That’s the only way we can all move forward safely.” In the same way, the AI Act creates a safe structure in which innovation can flourish without putting fundamental rights at risk.

Dr. Mancheva believes that the AI Act is carefully structured, under the guidance of many global business and political figures, focusing on the message that innovation should never come at the expense of accountability and human rights. She sees the AI Act not as a limitation, but as a framework for building responsible technology that serves both individuals and businesses.

 

AI Innovation and Risk Management in the Public Sector

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In a recent presentation hosted by NDB, Dr. Galya Mancheva explored the transformative role of AI in the public sector and the urgent need for ethical governance.  She called on government institutions to lead by example in adopting AI responsibly and transparently.

Dr. Mancheva explained that while AI offers new opportunities for public administration (from predictive policy tools to digital citizen services) its use must be rooted in strong internal controls and public accountability. Unlike in the private sector, decisions made with AI in public institutions often touch on basic rights, such as access to healthcare, education, or social support.

“Governments must show what responsible AI looks like,” said Dr. Mancheva. “When AI is used to make decisions that affect citizens’ lives, transparency, fairness, and human oversight are non-negotiable.”

She stressed that the EU AI Act provides the tools to ensure this happens. By categorizing AI systems by risk and requiring transparency from high-risk applications, the Act protects citizens while allowing space for innovation. In the public sector, this means guaranteeing that people know when they are interacting with AI and that their data is handled with care.

Dr. Mancheva also emphasized the need for national strategies that combine innovation with risk awareness. She warned that without proper governance, the public sector risks losing citizen trust, especially if algorithmic decisions go unchecked.

AI Innovation and Risk Management in the Financial Sector

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In the beginning of June, Dr. Galya Mancheva spoke at an event hosted by NDB, addressing the growing impact of AI on Bulgaria’s financial sector, as she outlined how the European Union’s Artificial Intelligence Act offers a critical framework for balancing innovation with responsible risk management.

Dr. Mancheva emphasized that financial institutions have much to gain from AI adoption. The financial sector covers a lot of ground, from automating customer service and enhancing fraud detection to optimizing credit scoring. However, a warning was made that the benefits of AI can only be realized when systems are transparent, explainable, and aligned with legal and ethical standards.

She pointed out that many financial firms still rely on black-box models that risk introducing bias or error, particularly in decisions that affect people’s financial rights. Under the EU AI Act, such high-risk applications will require rigorous documentation, transparency, and accountability measures.

“This is not about slowing innovation. It’s about building trust. AI systems in finance must be safe, fair, and explainable, especially when they affect real lives.”

Dr. Mancheva further noted that the AI Act sets a new compliance benchmark, with potential fines reaching €35 million or 7% of global turnover for violations. But the true cost, she argued, is reputational: companies seen as irresponsible in their AI practices may lose the trust of both clients and regulators. The AI pioneer urges financial institutions to act now, not later, and to treat regulatory readiness as part of their innovation strategy.

The EU AI Act: Hidden Business Opportunities No One Is Talking About

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Beyond Compliance: How Smart Businesses Can Profit from AI Regulation

Most discussions about the EU AI Act focus on compliance, fines, and regulatory challenges. But what if we told you that this law isn’t just about risk management—it’s also a massive business opportunity?

While many companies scramble to meet new requirements, those who think ahead can leverage this regulation to unlock new markets, increase trust, and gain a competitive edge.

The Hidden Business Opportunities of the AI Act

 First-Mover Advantage: Trust Becomes a Market Differentiator

The AI Act forces businesses to ensure fair, transparent, and accountable AI—but instead of treating this as a burden, companies can use it as a trust signal.

  • Customers and businesses will prefer AI solutions that are “EU AI Act Certified.”
  • Investors will favor AI startups that are regulation-proof, reducing long-term risks.
  •  Early adopters will shape industry standards before regulations become stricter worldwide.

Opportunity: If your business builds AI tools, positioning yourself as a compliant, ethical AI provider will give you a major advantage over competitors who lag behind.

New Revenue Streams: AI Compliance as a Service (AI-CaaS)

Just like GDPR gave rise to data privacy consulting and compliance software, the AI Act will create a massive market for AI compliance solutions.

  •  Consulting firms and law firms can offer AI compliance audits and certification services.
  •  Tech startups can develop AI monitoring tools that help businesses detect bias, ensure explainability, and manage compliance risks.
  •  “AI Safety-as-a-Service” will become a new SaaS category, helping companies monitor their AI in real time.

Opportunity: If you’re in tech, law, or compliance, offering AI risk assessment and monitoring services could be a huge revenue driver.

 Mergers & Acquisitions: The Rise of “Regulation-Ready” AI Startups

Investors are already shifting focus towards AI companies that are regulation-compliant from day one.

  • Corporate buyers will look for AI startups with built-in compliance, making them prime M&A targets.
  • Startups that integrate AI governance, bias detection, and human oversight tools will be more attractive to enterprises that need compliant AI solutions fast.
  • Companies that fail to adapt may find themselves blocked from the EU market, leading to fire-sale acquisitions of non-compliant AI firms.

Opportunity: If you’re a startup, embedding compliance and AI governance into your product now will make you far more valuable in the future.

AI Talent War: Demand for Compliance & Ethical AI Experts

Companies will need AI governance officers, bias auditors, and compliance engineers—roles that barely existed a few years ago.

  •  AI compliance jobs will skyrocket as businesses scramble to build internal AI ethics teams.
  •  Universities and online platforms will introduce new courses on AI law, bias mitigation, and regulatory compliance.
  • Companies that attract and retain AI governance experts will have a huge advantage over those struggling to keep up.

Opportunity: If you’re in HR, edtech, or training, there’s an emerging market for AI compliance education and talent development.

 Market Expansion: EU Compliance as a Global Standard

Regulations like GDPR didn’t just impact Europe—they became the global benchmark for data privacy. The same is likely to happen with the AI Act.

  •  Non-EU businesses will have to comply if they want to operate in Europe.
  • Global enterprises will apply EU AI standards worldwide to simplify compliance.
  •  Companies that align with EU AI regulations early will be better prepared for upcoming AI laws in the U.S., Asia, and beyond.

Opportunity: Businesses that go beyond minimum compliance can sell EU-certified AI solutions globally, setting the benchmark for ethical AI worldwide.

Adapt Fast, Win Big

The EU AI Act is not just about avoiding fines—it’s about seizing new business opportunities. Companies that act now can:

✅ Build trust with customers and investors
✅ Create new AI compliance products & services
✅ Attract top AI talent
✅ Position themselves for global expansion

Rather than seeing regulation as a roadblock, forward-thinking businesses will use it as a catalyst for growth.

So the question isn’t whether your business will comply—but how you’ll turn compliance into your next big business advantage.

EU AI Act Compliance: A Step-by-Step Guide for Businesses

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With the EU AI Act now in force, businesses deploying AI must ensure compliance or risk heavy penalties. But what does compliance actually involve? This guide breaks down key requirements and practical steps to help organizations align with the new regulations.

Understanding Your AI Risk Category

The EU AI Act classifies AI systems into four categories:

  • Unacceptable Risk (banned, e.g., social scoring)
  • High Risk (strict compliance needed, e.g., AI in hiring & healthcare)
  • Limited Risk (transparency requirements, e.g., chatbots)
  • Minimal Risk (no additional obligations)

Action Step: Businesses must audit their AI systems to determine their risk level and compliance obligations.

Key Compliance Requirements for High-Risk AI

If your AI system is high-risk, you must ensure:
– Data governance – AI must be trained on high-quality, unbiased data
–  Transparency & explainability – Users must understand how AI makes decisions
– Human oversight – AI systems cannot operate without human intervention

– Robust security measures – Cyber resilience is mandatory

 Action Step: Develop a compliance roadmap to document your AI’s training data, risk mitigation strategies, and monitoring process.

 How to Prepare for AI Act Compliance Audits

EU regulators will conduct strict audits on high-risk AI systems. Companies should:
–  Perform internal AI audits before regulatory inspections
–  Create a risk management framework tailored to their AI use case
–  Maintain detailed compliance documentation

 Action Step: Work with AI compliance experts to ensure your AI systems meet legal standards before audits begin.

Penalties for Non-Compliance

The EU AI Act enforces steep fines for violations:
– Up to €35 million or 7% of global annual turnover for non-compliance with banned AI practices
– Up to €15 million or 3% of turnover for failing to meet high-risk AI requirements

Action Step: Invest in AI compliance consulting to avoid costly penalties and reputational damage.

Navigating AI regulation is complex, but compliance is a business necessity. Partnering with AI Act experts ensures your business stays ahead of regulatory changes while leveraging AI safely and ethically.

Dr. Galya Mancheva Showcased AI Compliance Leadership at AI Innovation Summit

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Sofia, March, 6th – Dr. Galya Mancheva, a leading expert in AI compliance and CEO of AI Advy, recently participated in the prestigious AI Innovation Summit, where she shared valuable insights on AI regulation and ethical AI implementation.

At the summit, Dr. Mancheva addressed the critical challenges businesses face in navigating the EU AI Act and ensuring compliance with evolving AI regulations. Her participation underscored the importance of ethical AI development, risk mitigation, and corporate responsibility in AI adoption.

“The AI Innovation Summit was an incredible opportunity to exchange ideas with industry leaders and policymakers,” said Dr. Mancheva. “As AI continues to transform industries, ensuring compliance and ethical deployment is essential for long-term success and public trust.”

As the CEO of AI Advy, Dr. Mancheva leads efforts to help businesses integrate AI governance frameworks and align their AI systems with regulatory standards. Through her expertise, she is shaping the future of AI compliance and innovation in Europe and beyond.

For more information about Dr. Galya Mancheva and AI Advy, visit ai-advy.com or contact :mancheva@ai-advy.com.

 

The EU AI Act: A Bold Step or a Bureaucratic Nightmare?

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The European Union’s AI Act is the world’s first comprehensive attempt to regulate artificial intelligence. While its intentions are noble—ensuring ethical AI and protecting citizens—it has sparked intense debate. Is the EU leading the way in responsible AI development, or is it setting up barriers that will stifle innovation? This paper explores the key elements of the AI Act, its potential consequences, and whether it will shape the global AI landscape or leave Europe lagging behind.

Introduction: The AI Wild West and the EU’s Gamble

AI is advancing at a breakneck pace, transforming industries, economies, and societies. While the U.S. and China are engaged in an AI arms race, the EU has taken a different path—opting for strict regulation. The AI Act, first proposed in 2021 and finalized in 2024, aims to create a “human-centric” approach to AI governance. But can regulation keep up with technology, or will it be a self-imposed handicap?

 The Core of the AI Act: Risk-Based Regulation

The AI Act classifies AI systems into four categories based on their risk level:

Unacceptable Risk: Banned outright (e.g., social scoring, mass surveillance, emotion recognition in workplaces).

High Risk: Heavily regulated (e.g., AI in healthcare, hiring, law enforcement).

Limited Risk: Transparency requirements (e.g., chatbots, AI-generated content).

Minimal Risk: No special restrictions (e.g., video game AI, spam filters).

On paper, this seems reasonable, but critics argue that the real problem isn’t regulation itself—it’s the bureaucracy that comes with it.

 The Innovation Paradox: Protecting or Choking AI Development?

Europe prides itself on ethical AI, but will companies simply move elsewhere? Many AI startups and tech giants claim that the AI Act will make it nearly impossible to compete with less regulated regions like the U.S. and China.

DeepMind and OpenAI executives have warned that excessive regulation will make the EU unattractive for AI research.

EU-based AI startups fear they will drown in compliance costs while Silicon Valley races ahead.

France and Germany, despite supporting the Act, have lobbied for looser rules for general-purpose AI (GPAI) models like ChatGPT.

The irony? While the EU is enforcing strict AI rules, many of its top AI researchers and companies are moving to the U.S., where AI investment is skyrocketing.

The Enforcement Problem: Can the EU Keep Up?

The AI Act introduces heavy fines (up to €35 million or 7% of global turnover), but enforcement will be tricky. AI models evolve too fast for regulators to track, and determining AI “risk” isn’t always clear-cut. The Act also requires AI developers to document and explain their models—something that’s difficult, if not impossible, with complex neural networks.

Imagine trying to regulate an AI that constantly rewrites itself. Can regulators really audit something that even its creators barely understand?

 The Geopolitical Game: Europe vs. the World

While the EU is tightening its grip on AI, other global players are taking different approaches:

The U.S.: Focusing on voluntary AI safety commitments rather than strict regulations.

China: Prioritizing AI dominance with state-controlled guidelines.

UK and Canada: Opting for a more flexible, innovation-friendly AI governance model.

The EU wants its AI Act to set the global standard, much like its GDPR privacy rules. But will other nations follow, or will they leave Europe behind in the AI race?

 Conclusion: The Future of AI in Europe

The AI Act is a bold experiment—one that could make the EU a leader in ethical AI or turn it into an overregulated, innovation-hostile zone. The next few years will determine whether the Act ensures AI safety without suffocating progress or whether Europe’s most ambitious tech policy becomes a cautionary tale.

One thing is clear: while the AI revolution is unfolding, the EU is betting big on rules. The question is—will those rules make or break its future?

 

Dr. Galia Mancheva will speak at EEGS Webinar on AI’s Impact in Gaming

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February, 19th – Dr. Galia Mancheva, a leading expert in AI regulation and compliance, will be a featured speaker at the upcoming EEGS Webinar: “Rolling the Dice on AI: How Artificial Intelligence is Reshaping the Gaming Industry”, taking place on February 19, 2025, at 1:00 PM (EET).

As AI continues to revolutionize iGaming, its role in player experiences, responsible gambling, and regulatory compliance is more critical than ever. Dr. Mancheva will provide expert insights into the EU AI Act’s implications for the gaming sector, highlighting key regulatory challenges and ethical considerations.

“I’m excited to join this discussion and shed light on how AI can drive innovation while maintaining ethical and responsible gaming standards,” said Dr. Mancheva. “As regulations evolve, businesses must align with compliance requirements while harnessing AI’s potential to enhance user experiences.”

The EEGS Webinar will bring together industry professionals, policymakers, and AI experts to explore the opportunities and risks AI presents in gaming. Key topics include the intersection of technology and responsible gambling, the future of AI-driven regulation, and how operators can stay ahead in an increasingly automated landscape.

Registration for the event is now open. For more details and to secure a spot, visit : https://us06web.zoom.us/webinar/register/WN_igaHu5GHQ2SNHkD4s9J92g

About Dr. Galia Mancheva
Dr. Galia Mancheva is a recognized authority in AI governance and compliance, specializing in the EU AI Act and its impact on businesses. She is actively involved in shaping responsible AI policies, helping companies navigate regulatory challenges in emerging industries.

AI Innovation Summit 2025 to Feature Dr. Galia Mancheva on Navigating the EU AI Act

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Sofia, Bulgaria – March 6, 2025 – The AI Innovation Summit 2025 is set to take place on March 6, 2025, in Sofia, Bulgaria. Organized by Enterprise magazine, this premier event aims to unite AI experts, professionals, and enthusiasts to explore the latest innovations and technologies shaping the future.

A highlight of the summit will be a keynote address by Dr. Galia Mancheva, Founder and CEO of AI Advy, a consulting firm specializing in assisting companies with compliance to EU AI regulations. Dr. Mancheva will provide an in-depth analysis of the EU AI Act, offering insights into its implications for businesses and strategies for effective compliance.

Dr. Mancheva’s extensive experience includes working with financial institutions on implementing AI for capital adequacy and bank provisions, with her work receiving approval from the Austrian Central Bank. She is also the author of “Risk Management in Politics.”

The AI Innovation Summit 2025 will feature a diverse agenda, including presentations on AI applications in various sectors, leadership in the AI era, and panel discussions on large language models like Chat GPT and their business applications. Attendees will have the opportunity to engage with industry leaders, participate in workshops, and gain practical insights to stay ahead in the evolving AI landscape.

 

About AI Innovation Summit 2025

The AI Innovation Summit 2025, organized by Enterprise magazine, is a platform designed to foster a community of AI experts and enthusiasts. The summit aims to share knowledge on AI innovations, consumer engagement, and transformative technologies shaping the world.

 

About Dr. Galia Mancheva

Dr. Galia Mancheva is the Founder and CEO of AI Advy, a consulting company that helps companies comply with EU AI regulations to mitigate financial risks and avoid sanctions. Her expertise includes implementing AI solutions in the financial sector, and she is the author of “Risk Management in Politics.”

 

Media Contact:

Enterprise Magazine

Phone: +359 898 487 912

Email: abonament@enterprise.bg

Website:  AI Innovation Summit 06.03.2025 – AI Innovation Summit 2025

For more information and to register for the event, please visit  AI Innovation Summit 06.03.2025 – AI Innovation Summit 2025

Our CEO, Dr. Galya Mancheva, will be leading an insightful online training “EU AI Act” on February 20, 2025

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Master Events announces online seminar on the European Artificial Intelligence Act, leaded by our CEO, Dr. Galya Mancheva.

Master Events is pleased to invite professionals and organizations to an online seminar titled “The European Artificial Intelligence Act,” scheduled for February 20, 2025. This half-day seminar aims to provide a comprehensive understanding of the recently enacted European AI Act, its objectives, regulatory scope, and the obligations it imposes on organizations.

Seminar Highlights:

  • Introduction to the AI Act: An overview of the development and scope of the regulation.
  • Key Definitions: Clarification of essential terms related to artificial intelligence as defined by the Act.
  • Regulatory Objectives: Insight into the primary goals the Act seeks to achieve within the EU.
  • Risk-Based Approach: Understanding the Act’s methodology in categorizing AI systems based on associated risks.
  • Risk Levels and High-Risk Systems: Detailed discussion on different risk categories and the specific requirements for high-risk AI systems.
  • Risk Management for High-Risk Systems: Strategies and best practices for managing risks associated with high-risk AI applications.
  • Penalties and Sanctions: Information on the fines and sanctions for non-compliance with the Act.
  • Advantages and Disadvantages: A balanced view of the benefits and potential drawbacks of the Act.
  • EU Incentives: Overview of incentives provided by the EU to encourage compliance and innovation in AI.

About the European AI Act:

Enacted on August 1, 2024, the European Artificial Intelligence Act is the world’s first comprehensive regulation on artificial intelligence. It aims to restrict AI processes that pose unacceptable risks, establish clear requirements for high-risk systems, and impose specific obligations on implementers and providers. The legislative framework applies to both public and private entities within and outside the EU if the AI system is marketed in the Union or its use impacts individuals within the EU.

Who Should Attend:

This seminar is designed for professionals and organizations involved in the development, implementation, or oversight of AI systems, including:

  • AI Developers and Engineers
  • Compliance Officers
  • Legal Advisors
  • Risk Management Professionals
  • Policy Makers
  • Academic Researchers

Registration Details:

Date: February 20, 2025

Format: Online Seminar

Remaining Seats: 10 (Limited availability to ensure effective learning and engagement)

Participants will benefit from high-quality presentations, practical insights, and the opportunity to have their questions and case studies addressed. The seminar will be conducted through an innovative and user-friendly online platform, ensuring a seamless learning vexperience.

Master Events guarantees 100% satisfaction. If participants are not fully satisfied, a refund will be provided.

 

About Master Events:

Master Events specializes in organizing online seminars, trainings, and conferences for companies and governmental institutions. In addition to open courses and trainings, we organize in-house seminars tailored to your requirements.

For more information and to register for the seminar, please visit:  Онлайн обучение – Европейският акт за изкуствения интелект

Contact:

Master Events

Email: info@masterevents.bg

Phone: +359 2 123 4567

Website: MASTER EVENTS – Онлайн семинари и обучения 2024

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Join us to gain a thorough understanding of the European AI Act and its implications for your organization.