Public and private parties in Finland and Denmark have come together in a joint action to produce a catalogue of e-tools to explain and educate the industry on the Artificial Intelligence (AI) Act, Data Act and the European Health Data Space (EHDS) regulation. The target of these parties, by the lead and funding of The Finnish Innovation Fund Sitra, is to enable informed decisions by the innovators and deployers of digital solutions regarding the new acts.
This joint action also aims to collect evidence of the effect of these e-tools by surveys from the organizations involved. The e-tools are provided by Lean Entries through their regtech platform Entries, in English, and are scheduled for launch by the end of 2024. They are released for free use by all Finnish industrial sectors and the Danish health tech sector, from students and researchers to startups and corporations, throughout 2025. In recent years, the EU has produced a compilation of new legislative acts to regulate digital products, the use of data and AI.
“This joint project and the Entries regtech offer an opportunity to democratize regulation, bringing the capabilities of large corporations within the reach of SMEs. The market won’t wait for everyone to figure it out the hard way. While this takes several years, like it or not, the industry will need to respond to these regulations sooner, because the viability of today’s digital innovations is eventually judged by these rules”, says Ville Peltola, Head of Data and AI at Technology Industries of Finland, in the project’s press release.
Despite good intentions, this compilation resembles the multiverse of the Marvel Cinematic Universe (MCU): the cross-references require a true fan to follow and, even for them, the chance of misinterpretation remains substantial. This is at least until the European Commission and the EU Court of Justice produce a more detailed synopsis in the format of guidance, examples and preliminary rulings for the viewers across Europe and the world.
Light at the End of the Tunnel
According to Teemu Moilanen from FAIR, SMEs, especially startups, are growing increasingly concerned about the expanding regulatory burden. He mentions that his team is eagerly awaiting the new tools, which will be crucial during this transitional phase for the efficient knowledge transfer in such a crucial topic as regulatory compliance and spread the collected experience with the network of EDIHs.
‘At FAIR, we currently serve over 70 clients, many of whom are small companies trying to innovate in a highly competitive environment. The ability to quickly understand and comply with new regulations can mean the difference between thriving and falling behind. That’s why we’re excited about this joint action and the tools being developed. These tools will not only empower our clients by providing them with practical guidance but will also help us, as experts, pave the way for SMEs to navigate the EU’s regulatory landscape more effectively.,’ he reflects.
FAIR’s EU legal expert, Juuli Venkula, shares Moilanen’s thoughts and concerns. She notes that a study conducted by the Ministry of Economic Affairs and Employment of Finland found that Finnish companies were particularly overwhelmed by the vagueness of the regulation and its unpredictable impacts. Venkula states, that it wasn’t surprising result. The complexity of Article 113, Recital 180, and Annex V of the AI Act makes it tough reading even for lawyers, so support services and guidance are essential,’ she writes in an article published on FAIR’s website.”
More Information
The Finnish AI Region (FAIR) is a network comprised of ten partner organizations that collaboratively deliver its services. FAIR’s partners include the cities of Helsinki, Espoo, and Vantaa, Aalto University, the University of Helsinki, Haaga-Helia and Metropolia Universities of Applied Sciences, KIRA InnoHub, the IT Center for Science (CSC), and the European Institute of Innovation and Technology (EIT) Digital.
FAIR provides businesses with easy access to expert knowledge in artificial intelligence, augmented reality, high-performance computing, and cybersecurity. Offering free services, FAIR is a truly valuable partner, dedicated to accelerating and broadening the adoption of AI in small and medium-sized enterprises.
You can read the full press release in English via this link: Digital Tools to Explain the AI Act, Data Act, and EHDS Regulation Released by a Finnish-Danish Joint Action by the End of 2024.
For a deeper dive into EU AI regulation, check out the insightful article by our expert Juuli Venkula here: What Should SMEs Know About AI?”
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