Over 100 tech companies, including Indian IT leaders like Tata Consultancy Services (TCS), Infosys, and Wipro, as well as global players such as Google, Microsoft, and Amazon, have promised to comply early with the European Union’s new Artificial Intelligence (AI) regulations. These rules went into effect on August 1, 2024, and the commitment was made through an initiative called the AI Pact.
The AI Pact aims to help organizations get ready for the upcoming AI Act, the EU’s extensive regulatory framework for artificial intelligence. While certain aspects of the AI Act are already in effect, others—especially those related to “high-risk” AI systems—won’t take effect until August 2027, after a transitional period. This time frame gives companies the opportunity to adjust and achieve full compliance with the new, strict regulations.
In November 2023, the European Commission invited companies to express their interest in signing the voluntary AI Pact. More than 550 organizations from various sectors, sizes, and countries responded, with over 100 officially registering for the pact.
A report from The Times of India states that the AI Pact promotes proactive governance of AI, helping organizations identify high-risk AI systems and improve AI literacy among their employees. Signatories are also encouraged to establish industry-specific commitments, such as ensuring human oversight of AI operations, minimizing associated risks, and clearly labeling AI-generated content, including deep fakes.
The report noted that while many companies are participating, some significant players like Meta and Apple have yet to sign the Pact. Notably, OpenAI, the creator of ChatGPT, has joined the initiative, even though it had previously indicated it might exit the EU if it couldn’t comply with future regulations.
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