Artificial Intelligence has already become part of everyday business life. Chatbots, content-generation tools, automated processes, and data analytics systems are creating new opportunities, but also specific obligations.
For Cypriot businesses, the issue of compliance is now moving from theory to practice.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
Cyprus is moving forward with the creation of a national framework for the implementation and oversight of the EU AI Act, with provisions for competent authorities, audits, administrative measures, and penalties in cases of non-compliance.
The message for businesses is clear: it is not enough to simply know that they are using AI. They must know where they are using it, what obligations arise, and whether they have taken the appropriate compliance measures.
What Businesses Need to Know
The requirements of the AI Act vary depending on the system, how it is used, the business’s role, and the level of risk.
Among other things, a business may need to:
- Inform users when they are interacting with an AI system.
- Disclose the use of deepfakes or other synthetic content where required.
- To know whether the systems it uses fall into high-risk categories.
- Implement appropriate human oversight and internal procedures.
- Train staff who use AI tools.
- Maintain the necessary documentation and ensure compliance with other relevant requirements, such as the GDPR.
At the same time, as of August 2, 2026, the transparency rules of Article 50 of the AI Act will apply, concerning, among other things, interaction with AI systems and specific categories of content generated or altered by Artificial Intelligence.
From Compliance to Oversight
Under the new national framework, the competent authorities will be able to request financial and technical information and conduct inspections.
In cases of violations, administrative measures may be taken, ranging from corrective actions to the restriction or withdrawal of systems and the imposition of financial penalties.
That is why the first step for every organization is to gain a clear understanding of how Artificial Intelligence is used within its operations.
Where do we use AI? What are our obligations? What do we need to fix?
How Accurepoint Can Help
Accurepoint supports organizations in Cyprus and Greece in assessing their use of AI systems and understanding the requirements related to governance, risk management, and regulatory compliance.
Through its partnership with BABL AI, an independent AI systems auditing and assurance firm, it facilitates access to specialized assessment services and independent technical audits.
This allows a business to gain a clear picture of where it stands today, which requirements apply to it, and which actions it should prioritize.
For companies already using Artificial Intelligence, the right time to assess their compliance isn’t when an audit begins. It’s now.
For more information, visit the Accurepoint website and fill out the expression of interest form.
