The European Union (EU) is on course to be the first area in the world to pass a substantial artificial intelligence (AI) law.
Reuters tells us in a report that Margrethe Vestager, the EU's tech regulation head, stated on Sunday, April 30, that the draft Artificial Intelligence Act could be finalized this year.
Vestager's announcement follows a preliminary agreement reached on Thursday by EU Parliament members to put the proposal to a vote on May 11.
Establishing Guardrails for AI
Regulators worldwide have been debating how to build guardrails for AI technology. The EU's proposed AI Act will limit the use of AI technology while simultaneously reducing the potential harm from the misuse of AI. It would also create legislation to guarantee the safety and privacy of AI technology users.
Italy was one of the earliest countries to impose restrictions on the use of new technology. The Italian Data Protection Authority, known as Garante, has issued an order to OpenAI to cease processing personal data with its ChatGPT model, citing the General Data Protection Regulation (GDPR) of the European Union. The regulator is also concerned about the absence of any mechanism to restrict minors from accessing the technology.
If case you missed it, an AI-generated song imitating the voices and styles of famous artists like Drake and The Weeknd gained popularity recently.
However, it was later taken down from various streaming platforms due to concerns over copyright infringement. This incident has sparked discussions about regulating AI technology in relation to existing copyright laws.
According to EU tech regulation chief Vestager, it could take a few years for the legislation to be enforced, but businesses should begin considering the implications of the new regulations. The proposed EU law aims to balance AI innovation and safety by focusing on high-risk use cases.
Governments, Groups Advancing AI Regulation Efforts
The growing popularity of generative AI applications like OpenAI's ChatGPT and Midjourney has increased the demand for AI regulation. The rising accessibility of AI technology has heightened lawmakers' concerns about its unchecked growth.
Reuters also tells us about an organization backed by Elon Musk and European lawmakers involved in drafting the EU AI Act have urged global leaders to collaborate to stop advanced AI from disrupting society.
Digital ministers from the G7 advanced nations recently agreed to adopt "risk-based" regulation on AI. This development could be the first step towards global agreements on AI regulation.
Indonesia, India, and Ukraine representatives also attended this year's G7 meeting. German Transport Minister Volker Wissing stressed the importance of establishing AI regulations to protect democracy from manipulative AI.
Recently, an open letter was published online by the Future of Life Institute, calling on all artificial intelligence developers worldwide to halt the development of deep learning technology temporarily.
This letter, signed by Musk and other tech leaders, suggests that firms should take a six-month break from development, notably from training AIs beyond GPT-4.
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