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AI Oversight Gets Targeted Push in US, Malaysia and UK | PYMNTS.com

Dec 19, 2024 - pymnts.com
Congress has released its first comprehensive framework for AI oversight, recommending industry-specific regulation rather than broad federal rules. The bipartisan House Task Force on Artificial Intelligence suggests that existing agencies oversee AI within their domains, such as the SEC for financial markets and the FDA for medical devices. The report emphasizes focusing on demonstrable harms and calls for increased investment in workforce training and support for small businesses adopting AI. This approach comes amid debates over AI regulation, with the Task Force advocating for a measured response to potential risks from open-source models.

Meanwhile, Malaysia has launched a National AI Office to position itself as a regional tech hub, aiming to develop an AI code of ethics and regulatory framework. Strategic partnerships with tech giants like Amazon, Google, and Microsoft have boosted Malaysia's economy, attracting significant investments. In the U.K., the government is consulting on copyright reforms to balance the interests of creative industries and AI developers, following failed attempts at a voluntary AI copyright code. The proposals aim to enhance transparency, establish licensing frameworks, and ensure access to high-quality data, supporting innovation and growth in both sectors.

Key takeaways:

  • Congress recommends industry-specific AI oversight, with agencies regulating AI within their existing jurisdictions, as outlined by the House Task Force on Artificial Intelligence.
  • Malaysia has launched a National AI Office to centralize AI policy development and regulation, aiming to become a regional tech hub with strategic partnerships with major tech companies.
  • The U.K. is proposing copyright reforms to balance the interests of creative industries and AI developers, focusing on transparency and licensing frameworks for AI training data.
  • These initiatives reflect a global trend towards tailored AI regulation, balancing innovation with industry-specific protections and economic growth.
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