The European Commission, the European Parliament and delegates from 27 member countries are close to agreeing on a comprehensive artificial intelligence regulation in the Western world. After a long meeting, the participants opened AI Inc. manufacturers such as ChatGPT, owned by Google, and Bard, owned by Google. artificial intelligence agreed on a set of legal controls for its vehicles.
By the end of the several-hour meeting, the group was close to a formal agreement that would lead to the creation of a piece of legislation known as the “Artificial Intelligence Act,” according to some participants who asked not to be named.
Bloomberg claims an AI law ChatGPT and will determine the approach for regulating generative AI tools such as Bard. It would mark a landmark policy to regulate the AI industry unless the US Congress takes meaningful action. The report noted that the AI Act has been in the works for several months and that policymakers are trying to finalize the language and pass it before the European elections in June 2024.
According to Bloomberg, AI regulation has become controversial, given how extensive last Wednesday’s debate was. World leaders and technology executives are divided on how to regulate the AI industry as productive tools become more popular. Reports have claimed that it is difficult for the EU to find a balance between protecting local AI startups such as France’s Mistral AI and Germany’s Aleph Alpha and the potential risks of the technology.
However, Bloomberg added that some EU officials believe that the participating groups will soon reach an agreement on the finalization of the Artificial Intelligence Law. EU policymakers have reportedly proposed a plan that would require AI developers to keep information on how they train their models, summarize copyrighted material used and tag AI-generated content. They also aim to create a code of conduct to guide participants against “systemic risks.”