Artificial Intelligence: G7 Leaders Acknowledge Positive Potential Of AI, But Want “Guardrails”

This was the first time that the G7 was deliberating on AI, and came after the explosive advance in technology such as OpenAI’s ChatGPT.

G7 leaders have called for the establishment of “guardrails” to regulate the development of artificial intelligence (AI) at their 3-day summit in Japan that commenced today. There is a growing need for oversight of AI due to its rapid advancements and potential abuses, the leaders felt.

European Commission President Ursula von der Leyen and UK Prime Minister Rishi Sunak were among those who emphasized the importance of implementing safeguards for AI development. They highlighted the need for accuracy, reliability, safety, and non-discrimination in AI systems. (FT)

Governments, including the EU and the US, are exploring regulations for AI, with EU lawmakers last week agreeing on strict rules on the use of the technology.

“We reaffirm that AI policies and regulations should be human centric and based on nine democratic values, including protection of human rights and fundamental freedoms and the protection of privacy and personal data,” the G7 ministers said in a statement.

“We also reassert that AI policies and regulations should be risk-based and forward-looking to preserve an open and enabling environment for AI development and deployment that maximizes the benefits of the technology for people and the planet while mitigating its risks.”

Related Story:  What Sam Altman Said To The Senate Panel

Image of Hiroshima Peace Memorial by djedj from Pixabay

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Latest Alternative Investment News
Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes
December 7, 2023     Artificial Intelligence, News

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while…
Digital Assets: Robinhood Debuts Crypto Trading On Its App In The EU
December 7, 2023     Digital Assets, FinTech, News

Robinhood (NASDAQ: HOOD) has launched its Crypto app in the European Union (EU), allowing eligible customers to engage in crypto trading with the added incentive of earning Bitcoin rewards. Customers…
FinTech: Samsung Electronics Ties With Mastercard’s Wallet Express
December 7, 2023     FinTech, News

Samsung Electronics (KRX: 005930) and Mastercard (NYSE: MA) have partnered to launch the Wallet Express program, offering banks and card issuers a cost-effective way to expand digital wallet offerings. Through…
Venture Capital: Revaia, Europe’s Biggest Female-Led VC Firm, Racks Up $160M For Second Fund
December 7, 2023     ESG and Sustainability, News, Venture Capital

Revaia, Europe’s largest female-founded venture capital firm, has successfully raised €150 million ($160 million) for its second fund, Revaia Growth II. The funding was secured from sovereign wealth funds, family…