The UK government has released a new whitepaper on AI regulation with the intention of promoting responsible innovation and preserving public confidence in the technology.
The decision has been made to not create a new central regulator for the technology, and instead distribute responsibility among already established organizations.
According to a new whitepaper entitled ‘A pro-innovation approach to AI regulation’, the AI industry in the UK is already established, with over 50,000 employees and a contribution of £3.7 billion to the economy in the past year.
Read more: New Report Says AI Regulations Lag Behind Industry Advances
The government says the proposals in the AI Regulation White Paper “will help create the right environment for artificial intelligence to flourish safely in the UK.”
It says a “patchwork of legal regimes” is holding firms back from using AI to its full potential, causing confusion and both financial and administrative burdens.
Instead of a “heavy-handed” approach, the government says it will pursue light-touch regulation. That includes handing responsibility to existing regulators rather than establishing a new body.
Featured News
Judge Mehta Questions Both Sides in Landmark Google Antitrust Case
May 2, 2024 by
CPI
FCC Urges Urgent Funding for Removal of Chinese Telecom Equipment from U.S. Networks
May 2, 2024 by
CPI
Former Pioneer CEO Facing Potential Criminal Charges For Colluding With OPEC
May 2, 2024 by
CPI
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI