Over the past two years, we have seen a significant increase in the number of M&A deals involving companies based on artificial intelligence or using AI components.
First of all, at the global level, both the number and value of transactions involving AI companies are growing. Even in our domestic market, the highest ranking of the top 10 Polish start-ups in 2024 were AI-related companies. This shows the dominance of such companies in the market, notes Natalia Kotłowska-Wochna, attorney at law and Head of the New Tech M&A Practice.
According to Aventis Advisors, in 2025, the number of AI acquisitions will exceed 400, with a cumulative annual growth rate of 26%. The US accounts for approximately 38% of all global acquisitions in the AI sector (2022-2024), due to the concentration of major innovators and technology companies in this market.
In terms of the number of large acquisitions, the situation in Poland is similar to the global one, but Polish managers show a less ambitious approach. According to PWC’s “CEO Survey. Time for Reinvention”, as many as 46% of Polish CEOs are not planning any acquisitions in the next three years. By comparison, the global figure is 30%.
Impact of the AI Act on investment decisions
Will new regulations such as the AI Act affect investor interest in companies using artificial intelligence?
I think that for the time being, the regulatory risks associated with AI do not have a determining influence on the decisions of private equity funds. Of course, this is one of the elements taken into account, but is not the main factor, emphasises Natalia Kotłowska-Wochna.
In addition to the standard company assessment, which includes regulatory and technological issues (such as personal data protection, cyber security and intellectual property), there is now a completely new element – compliance with the AI Act.
AI in transaction processes
Artificial intelligence is not only the subject of transactions, but also a tool used in M&A processes.
According to DealRoom, within the next three years, 80% of M&A processes will use AI at various stages of the transaction – from identifying potential targets, through due diligence and financial analysis, to post-merger integration.
Polish law implementing the AI Act
In February, the Ministry of Digital Affairs presented an amended draft of the Artificial Intelligence Systems Act, which includes changes to the rules for monitoring the safety of products and services, as well as solutions to support innovation. The new draft also provides for the establishment of a regulatory sandbox, i.e. a space for testing new solutions.
I think the amendments to the AI Systems Act are going in the right direction, and the final regulations are expected to be published in the first quarter of this year. We have a lot of experience, for example in the context of personal data protection, where regulations have already been introduced in a similar way […]. So I think these regulations will also be positive. Nevertheless, it is worth waiting for the final versions of the drafts, which will be published soon, comments Natalia Kotłowska-Wochna.
Companies’ preparation for new regulations
How are Polish businesses preparing to comply with new regulations?
It seems that the degree of readiness varies and depends on the size of the companies:
- Large companies (especially those with foreign capital) – advanced preparation, in line with the company’s overarching policy
- Smaller companies – slower process, preparation of documents and procedures and implementation of compliance is not a priority
At this point, I think there will still be a lot of companies that will not be fully prepared for these regulations, especially since we still don’t know exactly what approach the regulators will take – says the head of our New Tech M&A Practice.
Mapping responsibilities in light of the AI Act
Under the AI Act, any company that develops, sells, uses or provides an artificial intelligence system must comply with certain requirements. Each company should therefore map its responsibilities in this regard by:
- identifying tools that have an AI component
- assessing tools to determine whether they meet the definition of an AI system
- classifying tools according to risk level (prohibited, high, limited or minimal)
- determining the scope of responsibilities and adapting to those responsibilities
The definition of an AI system is a key issue that we as lawyers are now focusing on. It contains six mandatory requirements and an optional one. It can be difficult to assess whether a given tool is an AI system because the definition is based on technical aspects such as the degree of autonomy or automation, explains Natalia Kotłowska-Wochna.
Challenges and opportunities for start-ups
For innovative start-ups, which often develop new AI tools themselves, the regulations represent both a challenge and an opportunity:
Start-ups that want to launch AI-based tools on the market need to be properly prepared in terms of procedures and documentation. In particular, if such start-ups want to attract investment, they must be prepared to have their system audited for compliance with regulations that will come into force in the near future, emphasises Natalia Kotłowska-Wochna.
Source: Polska Agencja Prasowa
Date: 14.03.2025
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