Question 1

What is the EU AI Act?

Accepted Answer

The EU AI Act (Regulation EU 2024/1689) is the world's first comprehensive legal framework for artificial intelligence. It entered into force on August 1, 2024, and applies to all companies operating AI systems in the European Union from August 2, 2026. Non-compliance carries fines of up to €35 million or 7% of global annual turnover.

Question 2

Who does the EU AI Act apply to?

Accepted Answer

The EU AI Act applies to any company that develops, deploys, or uses AI systems within the EU — regardless of where the company is headquartered. This includes Series A and Series B startups using AI in their products, HR tools, credit scoring, medical devices, or customer-facing applications.

Question 3

How long does EU AI Act compliance take?

Accepted Answer

Traditional compliance timelines with large law firms range from 6 to 18 months and cost €50,000 or more. Verumt delivers a complete audit-ready compliance package in 12 weeks, starting at €2,500 — designed specifically for startups and SMEs that need to move fast without enterprise-scale budgets.

Question 4

What does EU AI Act compliance include?

Accepted Answer

A full compliance package includes: AI system risk classification (prohibited, high-risk, limited-risk, minimal-risk), gap analysis against Articles 9–15, technical documentation, conformity assessment support, and board-ready reports. Verumt covers all of this in a single 12-week engagement.

Question 5

Does the EU AI Act apply to my startup?

Accepted Answer

Yes, if your startup develops, deploys, or uses AI systems that affect users in the European Union — regardless of where your company is incorporated. The Act applies from August 2, 2026.

Question 6

What are the penalties for non-compliance with the EU AI Act?

Accepted Answer

Fines for non-compliance range from €7.5 million (or 1.5% of global annual turnover) for minor violations, up to €35 million (or 7% of global annual turnover) for the most serious breaches.

Question 7

How is Verumt different from a law firm?

Accepted Answer

Verumt combines legal expertise with technical knowledge — our team includes both compliance lawyers and engineers. This allows us to deliver audit-ready compliance in 12 weeks at a fraction of the cost of traditional law firms (from €2,500 vs. €50,000+).

Question 8

What AI systems are considered high-risk under the EU AI Act?

Accepted Answer

High-risk AI systems include those used in hiring and HR decisions, credit scoring, medical diagnosis, biometric identification, and systems used in critical infrastructure. Article 6 and Annex III of the EU AI Act define the full list.

Question 9

When does EU AI Act compliance need to be completed?

Accepted Answer

The full regulation applies from August 2, 2026. However, investor due diligence and enterprise sales cycles mean that most Series A/B companies need to be audit-ready 6–12 months before the deadline — meaning the window to act is now.

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