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THE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & LifestyleTHE BIZNOB – Global Business & Financial News – A Business Journal – Focus On Business Leaders, Technology – Enterpeneurship – Finance – Economy – Politics & Lifestyle

Technology

Technology

AI legal framework needs to promote innovation, senior Google executive says

A Google logo is displayed at the entrance to the internet based company's offices in Toronto, ... A Google logo is displayed at the entrance to the internet based company's offices in Toronto, Ontario, Canada September 9, 2018. REUTERS/Chris Helgren/File Photo
A Google logo is displayed at the entrance to the internet based company's offices in Toronto, ... A Google logo is displayed at the entrance to the internet based company's offices in Toronto, Ontario, Canada September 9, 2018. REUTERS/Chris Helgren/File Photo

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An AI legal framework needs to promote innovation, a senior Google executive says. The chief legal officer of Google, Kent Walker, stated on Tuesday that the regulations that regulate artificial intelligence should support innovation. This statement is in response to the demands made by various businesses and industry groups as the European Union rushes to agree on AI guidelines in the following month.

To reach a consensus by December 6th, EU nations and EU parliamentarians are working to iron out the last aspects of a draft plan that the European Commission developed.

Foundation models, like OpenAI’s ChatGPT, are artificial intelligence systems trained on vast volumes of data and can learn from fresh data to do a range of tasks. This is identified as one of the most significant challenges of today.

According to Walker, Europe must strive to have the finest artificial intelligence regulations rather than the first AI rules.

One must strike a balance between innovation and regulation to achieve technological leadership. The text of a speech that he will deliver at a European Business Summit includes the following: “It is not about micromanaging progress; rather, it is about holding actors accountable when they violate public trust.”

We have been saying for a long time that artificial intelligence is too essential not to govern, and it is also too vital to regulate poorly. Not the first artificial intelligence regulations, but the best ones should be the focus of the competition.

He urged for the establishment of appropriate, risk-based standards that would expand on existing laws and provide businesses with the confidence they require to continue investing in artificial intelligence innovation. He also advocated for establishing complex trade-offs between security and openness, data access and privacy, and explainability and accuracy.

Last week, the European Union (EU) received a warning from the business organization DigitalEurope and 32 European digital groups about the dangers of over-regulating foundation models.


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