The State of AI Regulation as of September 2024
The regulation of AI is still in its formative stages. While some countries are taking proactive steps with dedicated legislation, others are relying on existing regulatory bodies to manage the complexities of AI. Here’s a brief overview of the current state of AI regulation in key regions.
United States
- AI Bill of Rights
Link: https://www.whitehouse.gov/wp-content/uploads/2022/10/Blueprint-for-an-AI-Bill-of-Rights.pdf
The AI Bill of Rights, introduced by the White House in October 2022, serves as a framework to safeguard individuals from potential risks posed by artificial intelligence technologies. Though not legally enforceable, it provides guiding principles for government agencies, companies, and other stakeholders to promote responsible development and use of AI systems.
- California Senate Bill 1047 (SB-1047) [Not signed into law yet]
Link: https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202320240SB1047
California Senate Bill 1047 (SB-1047) seeks to enforce strict safety and security protocols for developers of large-scale AI systems. The bill requires developers to conduct risk assessments, implement safeguards to prevent harmful uses of AI, such as cyberattacks or weapon creation, and establish mechanisms to shut down AI systems if safety concerns arise.
- Colorado’s AI Regulation for Fair Insurance Practices
Colorado’s new AI regulation for the insurance industry, effective November 14, 2023, establishes a governance and risk management framework for life insurers using External Consumer Data and Information Sources (ECDIS), algorithms, and predictive models. It requires insurers to adopt policies ensuring that the use of ECDIS does not lead to unfair discrimination, particularly regarding race, gender, and other protected characteristics.
European Union
- EU AI Act
The EU is leading the way in AI regulation with its AI Act, which aims to categorize AI systems by risk level: unacceptable, high-risk, and low-risk. The Act imposes strict rules on high-risk applications, such as those used in healthcare and law enforcement. Just as the GDPR set a global standard for data protection, the EU’s AI Act is expected to shape AI regulations worldwide.
United Kingdom
- AI White Paper [under the 2022 to 2024 Sunak Conservative government]
Link: https://www.gov.uk/government/publications/ai-regulation-a-pro-innovation-approach/white-paper
The government reaffirmed its commitment to a “proportionate, context-based approach” to AI regulation, emphasizing that it balances both innovation and safety. Instead of implementing broad new legislation, the UK is prioritising the empowerment of existing regulators, such as the Information Commissioner’s Office (ICO), Financial Conduct Authority (FCA), and Competition and Markets Authority (CMA), to manage AI within their respective areas.
