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Europe was set to lead the world on AI regulation. But can leaders reach a deal?

Economic Times

Economic Times · 1y ago

Europe was set to lead the world on AI regulation. But can leaders reach a deal?

Europe's efforts to implement comprehensive artificial intelligence (AI) rules may be at risk due to the rise of generative AI systems. The EU's Artificial Intelligence Act, a pioneering rulebook, is facing challenges as negotiators struggle to regulate generative AI. The legislation aims to address concerns over AI-powered facial recognition and surveillance systems, but disagreements regarding foundation models, powerful AI systems that underpin general purpose AI services, remain. Without a deal, the legislation could face delays or a change in direction as new leaders take office.

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AI is the buzz, the big opportunity and the risk to watch among the Davos glitterati

Economic Times

Economic Times · 1y ago

AI is the buzz, the big opportunity and the risk to watch among the Davos glitterati

At the World Economic Forum in Davos, artificial intelligence (AI) was a major topic of discussion among world leaders and corporate executives. OpenAI's CEO, Sam Altman, made waves with his presence, and AI's geopolitical importance was emphasized by leaders from China to France. The European Union has developed comprehensive AI regulations, while China called for control over machines and responsible AI development. Business leaders expressed optimism about the economic benefits of AI but acknowledged the potential job displacement it could cause.

Is your AI system reinforcing real-world bias?

Inshorts · 4m ago

Is your AI system reinforcing real-world bias?

AI can be objective, but only if the data and models behind it are. Without checks, biased inputs lead to unfair outputs, especially in hiring, lending, or policing. India's AI regulation roadmap is beginning to tackle algorithmic bias as a core challenge, not a side effect. Explainability and audits will be key to building trust.

Silicon Valley stifled the AI doom movement in 2024 | TechCrunch

TechCrunch · 7m ago

Silicon Valley stifled the AI doom movement in 2024 | TechCrunch

In 2024, Silicon Valley's tech industry overshadowed concerns about catastrophic AI risks, promoting a prosperous vision of generative AI. While high-profile figures called for AI regulation due to potential threats, industry leaders like Marc Andreessen argued for minimal restrictions to maintain competitiveness and innovation. The debate peaked with California's SB 1047, aimed at regulating AI, but it was vetoed amid intense lobbying and perceived impracticality. The AI safety movement gained some traction but faces challenges in 2025.

AI summit a start but global agreement a distant hope

Economic Times

Economic Times · 1y ago

AI summit a start but global agreement a distant hope

British Prime Minister Rishi Sunak hosted the first AI safety summit, where leaders discussed the regulation of AI. Two key outcomes were the signing of the Bletchley Declaration by 28 nations and the announcement of AI safety institutes by the US and UK. However, disagreements remain over how to regulate AI and who should lead such efforts. Concerns were raised about too much power and data being held in one country, and the potential risks of open-source AI. Achieving a global agreement on AI regulation seems distant.

Second global AI safety summit faces tough questions, lower turnout

Economic Times

Economic Times · 1y ago

Second global AI safety summit faces tough questions, lower turnout

Last year, the world's first global AI Safety Summit was held at Bletchley Park, with world leaders and experts discussing the regulation of AI. This year, the second AI Safety Summit will take place virtually, co-hosted by Britain and South Korea. However, key attendees have declined invitations. The focus has shifted from existential risk to concerns over resources needed for AI development, such as data and electricity. Experts warn against depending solely on scientific breakthroughs and financing efforts for the future of AI. The summit aims to address AI safety, innovation, and inclusivity.

Disputed landmark AI rules face crunch EU talks

Economic Times

Economic Times · 1y ago

Disputed landmark AI rules face crunch EU talks

The European Union's efforts to establish groundbreaking regulations for artificial intelligence (AI) are at a critical juncture as member states and lawmakers meet to negotiate a deal on biometric surveillance and the regulation of systems like ChatGPT. The EU's proposed AI Act, which aims to provide an alternative to the US and China's approaches, could become a benchmark. However, reaching a comprehensive agreement may be challenging, with conflicting demands over biometric surveillance and generative AI models. Failure to reach a deal may result in the AI Act being shelved, jeopardizing the EU's position as a frontrunner in AI regulation.

Europe is trying to regulate AI. That could backfire.

Business Insider

Business Insider · 1y ago

Europe is trying to regulate AI. That could backfire.

The European Parliament has approved the Artificial Intelligence Act, making the European Union a global leader in AI regulation. The act aims to protect citizens from the potential risks associated with AI. It classifies AI applications into three categories and assigns specific legal requirements and bans for high-risk applications. While some experts view this legislation as ambitious, it potentially makes Europe less competitive globally and could lead to companies avoiding regions with strict regulations. The act is expected to be implemented in May, and businesses will need to prepare to meet the new requirements.

As European dynamism gathers momentum, Elaia and partners double down with new deep tech fund

TechCrunch · 1y ago

As European dynamism gathers momentum, Elaia and partners double down with new deep tech fund

French venture capital firm Elaia has closed its third deep tech seed fund, DTS3, after raising €60m ($72m) in its first closing. The fund is set to reach €120m once completed in early 2025. Elaia aims to invest in around 40 early-stage B2B deep tech startups focusing on computing, industry and life sciences. The firm will invest in Europe mainly, with 20% open to the rest of the world. Elaia has already identified three startups to join its portfolio. The firm has previously invested in firms such as biotech company Mablink Bioscience, which was acquired by Eli Lilly.

Every country needs its own AI systems, says Nvidia CEO Jensen Huang

Business Insider

Business Insider · 1y ago

Every country needs its own AI systems, says Nvidia CEO Jensen Huang

Nvidia CEO, Jensen Huang, believes that every country should develop its own AI systems. During the World Governments Summit in Dubai, Huang emphasized the importance of countries owning the production of their own intelligence and data. He urged leaders not to be mystified by AI and highlighted its potential to drive a new industrial revolution. The UAE's AI minister, Omar Al Olama, expressed agreement with Huang's vision and stated that the UAE was proactively working on creating large language models and mobilizing compute power. Nvidia is set to report earnings next week after experiencing a surge in demand for its AI chips.

India to focus more on AI applications unlike West: Debjani Ghosh

Economic Times

Economic Times · 1y ago

India to focus more on AI applications unlike West: Debjani Ghosh

India's approach to artificial intelligence (AI) regulation differs from Europe and the US, with a focus on AI applications rather than building large language models, according to Debjani Ghosh, president of IT industry body Nasscom. A committee set up by Prime Minister Narendra Modi has completed a study on regulatory approaches and recommended a different approach that may involve tweaking existing regulations instead of regulating the technology itself. Ghosh also emphasized the need to focus on applied AI, rather than just building AI models, to achieve India's goals in the field.

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