Lord Ed Vaizey’s Post

AI is indeed a very complex and important issue, and can be likened to regulating the internet due to its pervasive nature and potential global impact. Just as with the internet, there are many challenges involved in regulating AI effectively while still fostering innovation and growth. It is therefore essential to strike a balance between regulation and innovation. Overly burdensome regulations could stifle progress and hinder the development of beneficial AI applications. Therefore, regulatory frameworks should be flexible enough to adapt to evolving technologies while still providing sufficient safeguards for individuals and society.

This is a really interesting take on California's AI bill that just passed the legislature, and one I hadn't thought much about: regulating based on a certain level of damage (i.e., after the fact, with a focus on major societal impacts) vs focusing on managing the risk to the consumer (i.e., putting guardrails in place for risky uses to protect individuals' rights). The risk framework that the EU put together for AI use cases makes a ton of sense to me as a basis for future attempts to regulate AI. Versus, in my layperson's interpretation of the SB 1047 approach, saying "if your tech is used for really really bad stuff, you're liable." The former gives a clear roadmap for a more positive use of AI and regulates the uses that are sketchy from the jump. The latter could mean the bad stuff happens, and then you get punished after the fact. And what about all the harm that might occur under the $500M mark? Guess you convinced me, Lewis! (Also, shoutout to my friends at MSR Communications for helping snag another great media placement! So fun to get the crew on TV)

🚨 Exciting update from the UK! A new Private Member's Bill on Public Authority Algorithmic and Automated Decision-Making Systems is in the works. If passed, this Bill could be a game-changer in aligning with the UK's commitments under the new Council of Europe AI treaty. Key requirements include: ➡ Ex-ante impact and bias assessments ➡ Independent validation of system efficacy ➡ Transparency of assessments and logging ➡ Mandatory auditability and traceability Stay up to date on the latest developments in #AI regulation around the world with our global Holistic AI Tracker. https://lnkd.in/dB5tix94 Don't miss out! #Regulation #EthicalAI

This is all the people touting the benefits of AI without fully grasping the costs associated with its implementation, ongoing support, and maintenance required to mitigate hallucinations. Majority of the organisations would struggle with producing unbiased data to train models let alone have the ongoing budget to continue to iterate to remove bias.

The European Union's Artificial Intelligence Act (EU AI ACT) does not only have a transformative impact on the European Union but the World. Our latest blog article explores the EU AI ACT, its complexities, and how New Zealand measures up. Curious to learn more? Dive deeper into the discussion by visiting the blog: https://lnkd.in/giraisM9 #EUAIAct #AIRegulation #TechEthics #ArtificialIntelligence #Regulation #Compliance

Unlocking the future responsibly! Here are the 5 key points of the EU's Artificial Intelligence Act: risk-based approach, prohibited practices, transparency & accountability, data governance, and human oversight. Let's shape AI for the better! #ai #artificialintelligence #euregulations #regulatorycompliance #riskmanagement #datagovernance

🔍 The EU's new AI Act is here! 📜 UK firms note that this landmark legislation aims to ensure AI safety and trustworthiness, impacting any business using AI with EU consumers. Key takeaways: 1) Different risk categories for #AI systems ⚖️ 2) Transparency and #compliance requirements 📑 3) Broad extraterritorial impact 🌍 Stay ahead by #auditing your AI systems and keeping up with #regulatory changes. Let's embrace innovation while adhering to #ethical standards! 💡🔒 Read more below. #iwork4dell

The EU’s Code of Practice for General-Purpose AI marks a key step in balancing innovation and regulation, with leading academics shaping its framework. However, tensions between AI providers and other stakeholders over data transparency and accountability highlight the challenges ahead for achieving consensus. Read the summary of Digital Watch Observatory

Interestingly the EU is making rules for a game in which it is not even involved. With today's decision by the EU Parliament to implement the AI Act, Europe will become an even less attractive location for the development of artificial intelligence. #CongratulationEurope

The UK’s Financial Conduct Authority (FCA) has recently published an update on its approach to artificial intelligence (AI). Key points include: - Continuing to further the FCA’s understanding of how AI is deployed in UK financial markets. - Building on the existing UK regulatory framework that covers firms’ use of technology, including AI. - Continuing to collaborate closely with the BoE, PSR, and with other regulators through its Digital Regulation Cooperation Forum (DRCF) membership. - Prioritising its international engagement on AI in line with recent developments such as the AI Safety Summit - Working with DRCF member regulators to deliver the pilot AI and Digital Hubs. - Assessing opportunities to pilot new types of regulatory engagement and environments in which the design and impact of AI on consumers and markets can be tested and assessed without harm materialising. - Investing further into AI technologies in order for the FCA itself to proactively monitor markets, including for market surveillance purposes. For more AI news please go to https://lnkd.in/etb5N9dU #AI #regulation #future