AI impact assessment support for Colorado AI Act readiness
Violations may carry civil penalties under Colorado law, including penalties of up to $20,000 per violation in some enforcement actions.
Elsewhere, it could mean missed sales when you can't prove that you take AI risk seriously.
If something goes wrong with AI at a company that never bothered to write a risk management policy, it tends to go worse for them than for the ones who did.
If your company is a deployer of a covered high-risk AI system, the Act generally requires:
Generally, the Act defines a high-risk AI system as one that makes, or is a substantial factor in making, a "consequential decision" affecting areas like education, employment, financial services, government services, healthcare, housing, insurance, or legal services. The details matter, so this isn't a substitute for reading the statute or talking to a lawyer.
The Act treats violations as deceptive trade practices, which can carry civil penalties of up to $20,000 per violation in some enforcement actions. Not having a risk management policy in place when something goes wrong tends to make things harder to defend.
Everything you need: AI system inventory, risk management policy, per-system impact assessments, testing records, annual review memo, change-management process, consumer and adverse decision notice templates, public AI disclosure statement, record retention file, and incident escalation procedures.
The Colorado AI Act (SB24-205) was signed into law in May 2024. Most deployer obligations take effect June 30, 2026.
The full compliance package is $2,849. An annual refresh to keep assessments current is $1,500/year.