Europe’s AI rules may become India’s opportunity

The article discusses the European Union's AI Act, which came into force in August 2024, and its implications for India's technology industry. The EU Act adopts a risk-based approach to AI regulation, requiring 'conformity assessments' for high-risk AI systems, with a crucial clause for 'substantial modifications' post-approval. This poses a challenge for India's tech industry, which thrives on responsive adaptation and unplanned improvements. However, the Act also presents an opportunity for India to provide AI compliance services, leveraging its expertise in legal and technical professionals. Furthermore, the recently concluded India-EU Free Trade Agreement could facilitate the recognition of Indian conformity assessment bodies, allowing India to become a participant in the EU's assessment ecosystem and turn regulatory challenges into economic opportunities.