The boom ofartificial intelligencehas spurred a regulatory frenzy across the globe andEuropeis at the forefront of the developments.
The former has opted for a hands-on, risk-based approach, whereas the latter has promised a pro-innovation stance.
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It also establishes the EuropeanAIOffice, which will oversee the laws implementation.
In contrast, the UK hasnt opted for bespoke legislation so far.
Instead, it has proposed a guidance framework for existing regulatory bodies.
The UK is also following a vertical strategy.
For the remaining categories, the concept is simple: the higher the risk, the tougher the rules.
Rule violations can lead to fines of up to 7% of a companys global turnover.
In contrast, the UK is currently targeting voluntary agreements on AI safety with key companies and countries.
To legislate or not to legislate?
But the UK might also be diverting from its pro-innovation, laissez-faire strategy before long.
Related concerns range from potential misuse to market manipulation.
One of the themes of this years TNW Conference is Ren-AI-ssance: The AI-Powered Rebirth.
Story byIoanna Lykiardopoulou
Ioanna is a writer at TNW.
With a background in the humanities, she has a soft spot for social impact-enabling technologies.
