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title: 5 takeaways from the summit
description: Practical guidance on ai governance for businesses.
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The EU AI Act Summit 2024: 06 February

# Event

 Key takeaways from the Summit

![iStock-691781930](https://aiethix.com/hubfs/iStock-691781930.jpg)

# The EU AI Act Summit 2024

Run in association with [City and Financial Global](https://cityandfinancial.com/), the one-day summit was hosted on 06 February in London. Focused on providing practical guidance on how best to prepare for the forthcoming EU AI Act, Practice Lead John Lloyd, was on the speaker panel for the session entitled

**Practical steps your company should be taking now to get ready for the change**

This session looked, in particular, into governance, data quality, general principles, risk management and conformity assessments. Five core themes emerged from the panel discussion with reference to practical governance guidance, namely:

**Five key takeaways**

1. Requirement to establish sound AI Ethic Principles
2. Need to create AI Governance standards, policies and requirements
3. Importance of mapping and tracking the AI ecosystem within your organisation
4. Attention should be given to ensuring adequate third party risk management
5. Need to foster organisational cultural shift in terms of AI awareness through training, education and other initiatives.

 

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