700 companies keen to join Pact to prepare for AI law

Industry commitments will be formalised this autumn.

Some 700 companies have shown interest in joining the AI Pact – which are preparatory commitments to help businesses get ready for the incoming AI Act – a spokesperson for the European Commission told Euronews. 
The number of interested companies has risen from 550 when the first call for interest was launched last November. 
With the Pact, the Commission aims to let businesses anticipate the AI Act with voluntary commitments and share ideas through workshops organised by the EU executive’s AI Office.
The AI Act, the world’s first legal framework that regulates AI models according to the risk they pose, entered into force today (1 August). Some provisions of the AI Act will already apply shortly after the adoption of the regulation: the general-purpose AI rules will apply one year after entry into force and the obligations for high-risk systems in three years’ time.
Organisations that have expressed interest in the AI Pact have been invited to a workshop in September to discuss the pledges, and to provide feedback on a new draft with a broader scope of commitments. 
The next step will be signing the voluntary commitments in the autumn, the spokesperson added.
Matteo Quattrocchi, Head of EU AI Policy at IT company Cisco, told Euronews that Cisco is “supportive” of the concept and is “looking into signing up”. 
“We eagerly anticipate September when the formal coordination process is set to launch, which will ensure comprehensive information on the Pact is available,” Quattrocchi added. He said that the AI Pact will serve as “a valuable tool in guiding companies to better understand their responsibilities and obligations under the AI Act.” 
Jean-Marc Leclerc, head of EU policy at IBM, said the AI Pact’s goal of encouraging companies to start putting in place processes to prepare their future compliance with the AI Act, is “a good idea considering future compliance efforts”.