What failing to comply with the EU AI Act means
Non-compliance with the requirements of the EU AI Act will result in high penalties:
Up to €35 million or 7% of your global annual revenue for non-compliance with prohibited practices regulation or data requirements.
Up to €15 million or 3% of your global annual revenue for non-compliance with any other regulatory requirements, such as those of high-risk systems or GPAI models.
Up to €7.5 million or 1.5% of your global annual revenue for providing incorrect, incomplete or misleading information about your AI systems.