If you’re making “AI” for biometrics, core infrastructure, admissions or assessment for education, job recruitment, job evaluation, life or health insurance, border control, and a few other cases that involve using ML to profile or assess people, then your product is high risk
You have 24 (or 36 for a subset) months to get your ass in gear, improve your documentation/record-keeping, support human oversight and generally have the sort of quality control you’d expect from a high risk product