Recognising the business community’s interest in implementing the European Union’s new AI Act, as well as the need for practical guidance in a fast-changing technological and regulatory environment, SEV held an event on Wednesday, 4 November, entitled “The AI Act in practice: What it means for your business – from compliance to the responsible use of AI”.
The EU AI Act is the first comprehensive legislative framework anywhere in the world to regulate the development, placing on the market and use of artificial intelligence systems.
Compliance with the regulation is not merely a legal or technical obligation. Rather, it is a matter of strategic readiness and establishing a framework for corporate governance to ensure the safe, responsible and productive use of AI in every business.
Obligations and challenges
The event outlined the main obligations for businesses arising from the AI Act and Law 5321/2026, the timetable for implementation of its various provisions, and the legal and organisational challenges of compliance, particularly in relation to accountability, risk management and corporate governance.
Executives from SEV member companies also shared their experience of implementing governance frameworks and responsible AI practices, showing how compliance with the new regulatory framework can build trust and become a source of competitive advantage.
Dr Vassilis Karkatzounis, Special Secretary for Artificial Intelligence and Data Governance, said: «Compliance with the AI Act is a new challenge for Greek businesses, but also an opportunity to strengthen their competitiveness. Our aim is to ensure they are not left alone in this transition. Through the national implementing law (Law 5321/2026) and initiatives such as the contribution of our staff to the Guide prepared by SEV, we are actively helping businesses, particularly SMEs, to access clear guidance and practical tools, prepare in good time and make the most of the opportunities offered by artificial intelligence».
Dr Kyriakos Sampatakakis (pictured), Accenture Chairman and Chief Executive Officer and Co-Chair of SEV’s Technology & Digital Transformation Committee, said: «Artificial intelligence offers a unique opportunity for our country. For this reason, at SEV, we want all businesses, regardless of size, to have the knowledge and tools they need in good time to harness its potential quickly, safely and with confidence. The “AI Act in practice” Guide helps achieve this by translating a complex regulatory framework into practical guidance for every business. The real challenge is to make artificial intelligence a driver of productivity and competitiveness across the Greek economy».
The new Guide
SEV has prepared and presented a comprehensive Guide to help businesses comply with the EU AI Act and Law 5321/2026. It provides a practical framework for identifying the obligations that apply to them, assessing their current level of readiness and organising the necessary AI compliance and governance processes.
The Guide recommends seven critical processes for a systematic approach to compliance:
1. Establish an AI governance framework, with clear roles, responsibilities, usage policies and accountability mechanisms.
2. Record the AI systems the business uses and/or develops in a single register (AI inventory).
3. Assess and classify all the business’s AI systems by risk category, and determine its role (provider or user).
4. Based on the previous step, identify and implement specific compliance measures for each system.
5. Develop the necessary knowledge and skills (AI literacy) to ensure AI is used safely and responsibly.
6. Incorporate the regulation’s requirements at every stage of procuring AI systems and verify their compliance through measures such as due diligence checks and contractual clauses.
7. Ensure continuous monitoring of systems, human oversight and the timely management of AI security incidents.
The Guide also clarifies aspects of the regulation that raise interpretive questions or create uncertainty, and includes a practical readiness checklist, advice on preparing for potential inspections by the competent authorities, and specific guidance on managing and using AI agents.
The Guide was prepared with contributions from the Special Secretariat for Artificial Intelligence and Data Governance.
SEV warmly thanks the sponsors for their contribution to the success of the event and their support for efforts to inform Greek businesses about the new AI regulatory framework.
The “AI Act in practice” Guide is available here
The presentation is available here
A video of the event is available here