Peers in the UK Parliament are set to discuss the establishment of an Artificial Intelligence Authority, aiming to tackle economic risks while promoting security, fairness, and transparency in the rapidly evolving AI sector.
UK Peers to Debate Artificial Intelligence (AI) Authority Creation
Peers in the UK Parliament are poised to discuss the introduction of an Artificial Intelligence (AI) Authority, under the Artificial Intelligence (Regulation) Bill initiated by Lord Holmes of Richmond. The proposed authority seeks to regulate the AI sector, with aims to address economic risks while upholding principles such as security, fairness, accountability, and transparency.
Lord Holmes has raised concerns about the UK’s risk of global irrelevance in AI without these new regulations, urging for immediate establishment of leadership and proper regulation to maintain a competitive edge in ethical AI development. He highlighted the insufficient nature of voluntary agreements in mitigating the existential harms potentially posed by unregulated AI.
The bill outlines that individuals involved in training AI would need to maintain records of third-party data and intellectual property used, ensuring informed consent for its application. It also proposes a labelling system to make consumers aware when AI has contributed to the provision of a service or product.
Despite Lord Holmes’ push for a statutory approach, the UK government currently prefers a non-statutory method, emphasizing adaptability. The government has committed over £100 million towards AI regulation preparation and ensuring safe technology utilization, delegating AI oversight to existing regulators across various sectors.
The necessity of AI regulation has gained consensus among industry stakeholders, with figures like Chancellor Rishi Sunak and entrepreneur Elon Musk calling attention to the urgency of implementing regulatory measures to protect humanity. The upcoming parliamentary debate will further clarify the government’s stance on the proposed AI Authority.
