The European Union (EU) and the United Kingdom (UK) are set to take the lead in global artificial intelligence (AI) regulation at the EBAday 2023 conference. The conference, which is organized by the European Banking Association (EBA), will bring together experts from the banking and technology industries to discuss the latest developments in AI and its impact on the financial sector.
The EU and UK have been at the forefront of AI regulation, with both regions introducing laws and guidelines to ensure that AI is developed and used in a responsible and ethical manner. The EU’s General Data Protection Regulation (GDPR) and the UK’s Data Protection Act are examples of such regulations.
At the EBAday 2023 conference, experts from the EU and UK will share their experiences and insights on AI regulation, and discuss how these regulations can be applied globally. The conference will also provide a platform for other countries to share their own experiences and best practices in AI regulation.
The need for global AI regulation has become increasingly urgent as AI technologies continue to advance at a rapid pace. AI has the potential to transform many industries, including finance, healthcare, and transportation. However, there are also concerns about the potential risks associated with AI, such as bias, privacy violations, and job displacement.
To address these concerns, governments and organizations around the world have been working to develop AI regulations. The EU’s AI Act, which was proposed in April 2021, is one such example. The act aims to create a harmonized regulatory framework for AI across the EU, and includes provisions for transparency, accountability, and human oversight.
The UK has also been active in AI regulation, with the government publishing its AI strategy in 2021. The strategy includes plans to establish a new regulatory body for AI, as well as guidelines for ethical AI development.
By leading global AI regulation at the EBAday 2023 conference, the EU and UK are demonstrating their commitment to ensuring that AI is developed and used in a responsible and ethical manner. The conference will provide a valuable opportunity for experts from around the world to collaborate and share their knowledge and experiences, and to work towards a common goal of creating a safe and trustworthy AI ecosystem.
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- Source: Plato Data Intelligence.