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The G7 has agreed to work towards the adoption of interoperable regulatory and technical standards for AI.
Leaders of the G7 group of countries discussed AI regulation when they met in Hiroshima on Friday. In a joint statement on Saturday, they stressed the importance of international discussions on AI governance, noting the need for interoperability between AI governance frameworks.
G7 leaders commit to adopting a common vision for AI policy
In a joint statement, G7 leaders said the need to align their countries’ vision on AI regulation.
They alluded to the rapid growth and accessibility of generative AI models like ChatGPT, which recently launched as an app.
World leaders in Hiroshima recognized the need to immediately take stock of the opportunities and challenges of generative AI, which is increasingly important across countries and sectors.
While acknowledging that policy approaches and instruments varied across G7 members, they said they shared a common vision and goal of trustworthy AI. As well as committing to work on shared technical standards, they agreed that relevant ministers would establish an AI task force by the end of this year.
The group will discuss how to protect intellectual property rights, promote transparency and protect against misinformation.
EU moves forward with AI regulation
The latest agreement follows the announcement that the European Union (EU) has moved closer to adopting dedicated regulations for AI. The EU is sometimes referred to as the eighth member of the G7. Several European officials were present at the Hiroshima summit.
Earlier this month, the European Parliament adopted a draft negotiating mandate for the AI bill. The EU will now start legislating. The bill aims to expand citizens’ rights to challenge decisions made by AI and demand transparency from AI systems.
The planned bill will also ban certain AI applications.
For example, it is expected to ban the use of predictive policing systems. These are AI models that attempt to identify criminal activity based on profiling, location, or past criminal behavior.
Biometric identification systems will also be banned in public places and the indiscriminate scraping of biometric data from social media or CCTV footage will be banned.
US President Biden Offers Crypto Traders No Respite
Also speaking at the G7 summit, US President Biden commented on the budget negotiations. While clarifying that the spending proposal between the Republican Party through a bipartisan proposal had not been confirmed.
The president called the Republican proposal “simply unacceptable.” President Biden added that:
“I’m not going to agree to a deal that protects wealthy tax cheats and crypto traders while endangering food helpers.”
BREAKING: President Joe Biden speaking on the final day of the G7 summit
“I’m not going to agree to a deal that protects wealthy tax cheats and crypto traders while endangering food helpers.” https://t.co/q2ATjj9RFh
Sky 501, Virgin 602, Freeview 233 and YouTube pic.twitter.com/PIf0O5tKXq
— Sky News (@SkyNews) May 21, 2023
At present, no bipartite agreement has been confirmed. President Biden will return to the United States on Sunday to continue budget negotiations.
However, it seems obvious that the president has no intention of outlining the benefits of spending that protects or benefits the crypto industry.
Disclaimer
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