Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ News / World/  G7 nations set to regulate ChatGPT as European lawmakers discuss AI act
BackBack

G7 nations set to regulate ChatGPT as European lawmakers discuss AI act

G7 members added that the regulation should also preserve an open and enabling environment for the development of ChatGPT-like AI technologies and should be based on democratic values

Digital and technology ministers attend a photo session during the G7 Digital and Tech Ministers' Meeting in Takasaki, Gunma Prefecture, Japan (via REUTERS)Premium
Digital and technology ministers attend a photo session during the G7 Digital and Tech Ministers' Meeting in Takasaki, Gunma Prefecture, Japan (via REUTERS)

The Group of Seven (G7) nations affirmed the adoption of "risk-based" regulation of artificial intelligence on Sunday. The move by digital ministries of the G7 nations came as multiple countries in Europe are mulling over an AI act to enforce regulations around generative AI like ChatGPT.

The development is significant as the developed nations have repeatedly stressed the need for a regulation, amid the growing popularity of ChatGPT-like AI platforms. Italy, a G7 member decided to ban ChatGPT over privacy concerns. The ban was lifted on Friday, but many countries in privacy-strict Europe are still discussing it.

However, the G7 members added that the regulation should also "preserve an open and enabling environment" for the development of AI technologies and should be based on democratic values.

While the ministers recognised that "policy instruments to achieve the common vision and goal of trustworthy AI may vary across G7 members", the agreement sets a sort of template for AI governance amid privacy concerns from various corners.

"The conclusions of this G7 meeting show that we are definitely not alone in this," European Commission Executive Vice President Margrethe Vestager told news agency Reuters ahead of the agreement.

Governments have shown particular interest in the widespread use of generative AI tools, including ChatGPT. This chatbot was created by OpenAI, a company supported by Microsoft Corp, and has achieved record-breaking growth since its launch in November, making it the fastest-growing application in history.

"We plan to convene future G7 discussions on generative AI which could include topics such as governance, how to safeguard intellectual property rights including copyright, promote transparency, address disinformation" including information manipulation by foreign forces, the ministerial statement said.

On Thursday, lawmakers in the European Union (EU) made a preliminary agreement on a revised version of the forthcoming AI Act. This new draft includes provisions for protecting copyright in relation to generative AI. The move came after a call for a summit of world leaders to address the issue of controlling this technology.

(With inputs from agencies)

Read More: How ChatGPT benefit crypto investors? Experts say 'can maximize profits'

 

 

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Devesh Kumar
I cover politics, geo-politics, economy, and technology and have keen interest in understanding and analyzing the complex issues that shape our world. I am committed to delivering well-researched, balanced, and thought-provoking stories that provides insights into the key trends and developments.
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 30 Apr 2023, 02:50 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App