The Artificial Intelligence (Regulation) Bill was presented in the UK, focusing on five principle values: safety, transparency, fairness, accountability, competitiveness, and remedy. Its main goals are to establish regulations in the AI sector and to create an Artificial Intelligence Authority. This Authority will supervise AI regulation and integration across various sectors while adhering to these central principles.

Defined within the bill, artificial intelligence is a technology that programs or trains a device or software to (a) perceive environments through data usage; (b) interpret data via automated processing for cognitive abilities assessment; and (c) provide recommendations, predictions, or decisions to achieve a specific objective.

Key components of the bill’s regulatory framework include:

• Mandatory adherence to new key principles and legal requirements by all businesses using AI technology. This includes the appointment of a dedicated AI officer for safe and responsible technology use, ensuring consumer transparency regarding potential risks, preventing biased AI decisions, providing equitable service to all, including vulnerable populations, and performing risk assessments and AI usage monitoring.
• Requiring AI technology trainers to submit documentation of all data and third-party intellectual property rights to the Artificial Intelligence Authority, confirming lawful and consensual use.
• Empowering the Authority and other designated entities to supervise and inspect any business employing AI technology.
• Continuous market monitoring and AI industry consultations by the AI Authority and the Secretary of State to adapt to evolving AI technologies.
• Encouraging supporting responsible and innovative AI initiatives and research.
• International cooperation aimed at complying with global regulatory frameworks.

Click here to read the Artificial Intelligence (Regulation) Bill.