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Our CEO, Dr. Galya Mancheva was a speaker at a seminar organized by BAIT, which took place on November 20, 2024

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Our CEO, Dr. Galya Mancheva was a speaker at a seminar organized by the Bulgarian Association of Information Technology (BAIT), which took place on November 20, 2024, at Interpred. The  topic of the seminar was the  EU AI Act – the EU’s regulatory framework on artificial intelligence (Regulation (EU) 2024/1689).

The event was attended by nearly 20 representatives from 13 BAIT member companies, who learned about the definition of artificial intelligence, the deadlines for compliance with the new regulatory requirements, the levels of risk and the risk-based approach implied by the framework, as well as the concept of risk management in the context of these requirements.

Dr. Galya Mancheva also presented  AI advy, which helps companies meet European requirements and regulations related to artificial intelligence, particularly in the area of high-risk systems.

Europe regulates AI in order to boost investment in innovation and deep technologies

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Europe regulates AI in order to boosts investment in innovation and deep technologies: European Innovation Council to invest €1.4 billion in deep technologies in 2025

Next year, the European Innovation Council (EIC) will boost deep technologies and high-potential start-ups from the EU with €1.4 billion. This is set out in the EIC Work Programme for 2025. The increase is €200 million compared to 2024 and aims to boost a more sustainable innovation ecosystem in Europe.

One of the main improvements to the programme is the EIC’s new scheme to expand the Strategic Technology Platform for Europe (STEP) – its budget is €300 million and will finance larger investments in companies aiming to bring strategic technologies to the EU market.

The remaining budget is distributed across 4 funding schemes:

EIC Pathfinder – for technology solutions with a technology readiness level of up to TRL 4 with the potential to lead to technological breakthroughs.

EIC Transition – an opportunity for consortia that have already achieved research results within the EIC Pathfinder or other Horizon 2020 and Horizon Europe programmes to turn them into innovations ready for market implementation.

EIC Accelerator – support for innovation projects in the final development phase.

The individual programmes are eligible for funding by research organisations, universities, SMEs, start-ups, manufacturing companies or sole traders, large companies, small mid-caps, etc.

Our CEO Dr. Galya Mancheva has provided an UpDate on EU AI Act on Bloomberg TV

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Our CEO Dr. Galya Mancheva has provided today an UpDate on EuAiAct on Bloomberg TV.

Some of the insights are the following:

The ban of AI systems posing unacceptable risks will apply six months after the entry into force.

Codes of practice will apply nine months after entry into force.

Rules on general-purpose AI systems that need to comply with transparency requirements will apply 12 months after the entry into force

High-risk systems will have more time to comply with the requirements as the obligations concerning them will become applicable 36 months after the entry into force.

Dr. Galya Mancheva will be one of the speakers at the upcoming business forum EU AI Act: regulations and transformations in the industry

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Dr. Galya Mancheva, founder and executive director of the company Ai advy, will be one of the speakers at the upcoming business forum EU AI act: regulations and transformations in the industry, organized by b2b Media.
The event will take place on November 1st at the Intercontinental Hotel. The one-day forum brings together business leaders and entrepreneurs who are transforming their organizations in line with the latest technology trends and regulations. It will provide an opportunity to follow trends in the industry, the latest EU regulations in the field, as well as intriguing European programs to develop business with.
Dr. Mancheva will participate with the topic “EU AI act: threat or opportunity for business transformation”. She builds her risk management and regulatory expertise over 10 years in the financial technology industry. For the past three years, he has been developing Ai advy, which helps companies comply with EU regulatory requirements regarding artificial intelligence. She has authored a number of scientific publications exploring the regulation since its announcement in 2021.
You can buy a ticket worth BGN 240. We provide an additional code for a 40% discount: Advy40
Need more experts? – Get 3 tickets and get a fourth free

Come to find out:
– What are the deadlines for the implementation of the EU AI Act
– How AI will change the business climate in Bulgaria and Europe
– Which are the new European innovation programs to apply to

Learn more: https://ai.b2bmedia.bg/

Article: https://b2bmedia.bg/news/nov-biznes-forum-postavq-na-fokus-regulaciite-v-ai-eto-kakvo-da-ochakvate-xepYL

Website of the event: https://ai.b2bmedia.bg/

 

Who does the AI Act apply to?

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The legislative framework will apply to both public and private entities inside and outside the #EU if the AI system is placed on the Union market or its use affects persons located in the #EU.

It can apply to both providers (e.g. the developer of a resume screening tool) and those implementing high-risk AI systems (e.g. a bank that purchased a resume screening tool). Importers of AI systems will must also ensure that the foreign supplier has already carried out the relevant conformity assessment procedure and that the relevant AI system bears a European Conformity Mark (CE) and is accompanied by the necessary documentation and instructions for use.

In addition, certain obligations are foreseen for providers of general-purpose AI models, including large generative #AI models.

Free open source model providers are exempt from most of these obligations. This exemption does not cover the obligations of providers of general purpose AI models with systemic risks.

The obligations also do not apply to pre-market research, development and prototyping activities, and the regulation does not apply to #AI systems that are exclusively for military and defense purposes or for purposes in the field of national security, regardless of the type of entity performing these activities

Which risks will be covered by the new AI rules?

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The deployment of #AI systems has great potential to deliver societal benefits, economic growth and boost #EU innovation as well as global competitiveness. In some cases, however, the specific characteristics of some AI systems may lead to new risks related to consumer safety and fundamental rights. Some powerful AI models that are widely used could even pose systemic #risks.
This leads to legal uncertainty for companies and a potentially slower uptake of AI technologies among businesses and citizens due to a lack of trust. An unsynchronized regulatory response by national authorities risks fragmenting the internal market.

Why should we regulate the use of artificial intelligence?

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The potential benefits of artificial intelligence (#AI) for our societies are numerous—from better medical care to better education. Given the rapid technological development of #AI, the #EU is determined to act as one to make good use of these opportunities.

The #EU AI Act is the first comprehensive #AI legislation in the world. It aims to address risks to health, safety and fundamental rights. The regulation also protects democracy, the rule of law and the environment.

Although most AI systems involve little or no risk, some AI systems create risks that must be accounted for in order to avoid undesirable outcomes.

For example, the non-transparency of many algorithms can lead to uncertainty and hinder the effective implementation of existing safety and fundamental rights legislation. In response to these challenges, legislative action was needed to ensure a well-functioning internal market for AI systems where both benefits and risks are adequately considered.

This includes applications such as biometric identification systems or decisions made by AI that affect important personal interests, for example in employment, education, healthcare or law enforcement.

In front of 500 guests, dr. Galia Mancheva, shared the latest news regarding the regulation of artificial intelligence by the EU

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On April 19th, 2024, dr. Galia Mancheva – the CEO of Ai advy, took part at the the only workshop of its kind by entrepreneurs for entrepreneurs.

Dr. Mancheva has attended the discussion panel “Products and services of the future. Innovations and automation in business development”, sharing the latest news on EU AI act.

Watch the panel discussion: https://www.youtube.com/watch?v=IM7vsZXh4Fc

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