G7 Leaders To Endorse A Voluntary AI Code Of Conduct For Companies: Report

Leaders from the Group of Seven (G7) are set to endorse a voluntary code of conduct for enterprises engaged in developing advanced artificial intelligence technologies. 

This move aims to manage the potential risks and misuse associated with AI systems.

What Happened: The G7 nations are on the brink of approving a code of conduct for companies involved in the development of complex AI technologies. 

This initiative, slated for agreement on Monday, is designed to control the potential risks and misuse of AI technologies, reported Reuters, citing a G7 document. 

This code of conduct comes when there are increasing concerns around privacy and security related to AI. 

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The G7 economies, including Canada, France, Germany, Italy, Japan, the U.K., and the U.S., along with the EU, started the process in May at a forum called the “Hiroshima AI Process”.

The code comprises 11 points to foster safe, secure, and trustworthy AI globally. 

It offers voluntary guidance for companies involved in advanced AI development and encourages them to identify, assess, and manage risks throughout the AI lifecycle. 

Companies are also urged to publish public reports on the capabilities and limitations of AI technologies, as well as their use and misuse while investing in robust security controls, the report noted. 

Why It Matters: This development comes on the heels of the EU’s proposal to introduce a three-tiered system for regulating AI technologies, possibly marking it as the first Western government to do so. 

The proposed legislation, known as the AI Act, would require AI systems for predicting crime or sorting job applications to undergo risk assessments.

Moreover, previously it was reported that the Joe Biden Administration could release a crucial executive order focused on AI, including key provisions around AI use and immigration barriers for highly skilled workers. 

This order will require advanced AI models to undergo assessments before federal workers can use them.

In light of these developments, the G7’s move to ratify the AI code of conduct signifies a major milestone in global AI regulation.

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