Get ready for the AI regulation wave! Six months after ChatGPT became an overnight success, the U.S. and the EU are racing to develop rules and draft laws to address both the benefits and risks of generative AI.
With the news on AI regulation efforts piling up so fast, it’s hard to keep track. But now is definitely the time to perk up and pay attention — because AI regulation is coming, whether organizations are ready for it or not.
Companies are certainly eager to take advantage of generative AI, but there are also a host of risks tied to powerful AI that can’t be ignored. From AI systems that produce biased results to unauthorized deepfakes, cybersecurity concerns, and high-risk military use cases, the stakes are high.
As the commercial use of Artificial Intelligence (AI) technology continues to grow, governments must also consider the risks these technologies pose and the need for their regulation. The European Union (EU) has recently announced a new draft legislation that aims to set the highest standards in the world for AI technology, and the United States is currently in the process of developing similar federal regulations.The EU AI Act, as it is known, will require companies and organisations based in the EU to adhere to certain standards and safeguards intended to protect customers and citizens when using AI-based technologies. Companies that fail to comply could be subject to fines of up to 6% of their total annual worldwide turnover. The Act also requires companies to disclose certain information about their use of AI, such as how they are using the technology to make decisions and how they are addressing issues such as bias and privacy.
The AI Beat, a publication dedicated to news on artificial intelligence, has been closely tracking the development and implementation of the EU AI Act. In recent coverage, the publication has outlined a number of key elements of the Act, including details on the list of prohibited uses of AI technology, the registration system that companies will need to use to declare their use of AI, and other requirements.
The US is also in the process of developing its own set of federal regulations for AI technology. The details of these regulations are yet to be released, but speculation suggests that they will be similar to those of the EU AI Act.
The AI Beat has been covering the development of US AI regulations closely, summarising what is known so far in various articles and providing readers with up-to-date information and analysis. The publication has gone into detail about the potential implications of these regulations, offering readers an in-depth look at the legal and ethical issues of these technologies.
As this technology continues to evolve and become more integral to our lives, it is essential that regulation keeps up. The AI Beat provides readers with up-to-date coverage about the EU AI Act, the planned US regulations, and the potential implications of both.
Whether you need a primer on the EU AI Act, an update on the planned US regulations, or a detailed look at the developments of both, The AI Beat has it covered. Dive into the details and stay informed with The AI Beat.
