Munich, Germany. TÜV SÜD, a global leader in testing, inspection, and certification services, announces the launch of "AI Procured", a corporate venture headquartered in Singapore. AI Procured is committed to empowering organisations to qualify AI solutions that meet strict safety, security, and ethical standards while ensuring regulatory compliance. AI adoption is made smoother by addressing regulatory complexities and uncertainties, allowing a confident procurement process with ongoing solution monitoring.
As AI technology has taken centre stage in recent years, enterprise adoption has faced significant hurdles due to concerns around safety, security, and overall effectiveness. The complex and high-risk nature of AI purchases often delays the acquisition and adoption process, hindering organisations from leveraging AI's potential. Adding to this complexity, introducing new regulations, such as the EU AI Act, corporations are uncertain about the compliance of AI products. The EU AI Act was passed by the European Commission last year and enforces stringent regulations for AI models, imposing potential penalties of up to 7 per cent of global turnover for organisations found non-compliant. Navigating this emerging regulatory landscape remains a formidable task for procurement teams.
