Global government scrutiny of AI technologies has increased in 2023, resulting in regulatory momentum. As the rate of AI innovation continues to increase, AI-focused regulations are gaining maturity.
A lot of indispensable worldwide declarations has established the vibe here. Take, for instance, the statement that the G-7 nations made regarding the AI Hiroshima process in regards to the adoption of a set of international Guiding Principles and a Code of Conduct for organizations that are working on advanced AI Systems. On October 30, 2023, US President Biden issued an Executive Order titled “Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence.” That was trailed by the UK Bletchley Statement on computer based intelligence Security on November 2, 2023 and UK Man-made reasoning (Guideline) Bill, 2023 dated November 22, 2023, under the aegis of English Head of the state Rishi Sunak.
Will these statements be helpful? All of them sound great, but they actually show that governments, with the exception of China and the EU, have asked businesses to self-regulate while considering how to deal with the significant risks AI poses.