European Union: Adopted LIBRE and IMCO's position on AI Act including business registration requirement for "high-risk AI systems"

On 11 May 2023, the European Parliament Committee on Civil Liberties, Justice and Home Affairs (LIBE) and Internal Market and Consumer Protection Committee (IMCO) adopted their position on the Act on Harmonised Rules for Artificial Intelligence (AI Act), including conformity assessment and business registration requirement for "high-risk AI systems". Specifically, the systems classified as "high-risk" would be required to demonstrate compliance with cybersecurity requirements and undergo conformity assessment procedures when systems are substantially modified. Furthermore, the providers of "high-risk AI systems" would be required to register the system before it is placed on the market and monitor it after it is made available to EU consumers. The declaration of conformity for each AI system will have to be retained by the national authority for 10 years after its placing on the market. The subsequent legislative procedure is for the European Parliament to endorse the draft in plenary during the session in June 2023.