NewsletterAI Regulations Soon? G7 Nations Agree AI Needs Rules
AI Crypto News: The 49th G7 summit hosted by Japan in Hiroshima on Saturday witnessed all the invited nations’ approval on the need for governance in the sector of generative artificial intelligence (AI). The leaders of G7 nations seek the adoption of global technical standards for AI.
Also Read: Why Didn’t US SEC Appeal Over Hinman Docs? Is It Looking To Settle?
AI Tech To Face Trouble From G7?
According to reports, the G7 leaders raised concerns regarding the disruptive potential this technology carries. They stated that the governance of the emerging digital economy should be updated regularly and be in line with democratic values.
The consensus among the leaders build after European Union moved towards passing a law to regulate artificial intelligence. However, it is reported that these laws might be the world’s first complete AI regulations.
Ursula von der Leyen, European Commission President while presenting at G7 mentioned that they want AI systems to be accurate, safe, reliable and Non-discriminatory. Read More Crypto News Here…
Also Read: Ripple CEO Warns “Confusing Laws” Will Push Crypto Firms To Leave US
Bloomberg reported that labeled as the “Hiroshima Process”, the nations will be holding high level meetings discussing the issue. However, a report will be submitted by the end of the year.
ChatGPT, an artificial intelligence chatbot got mentions from several leaders during the meeting. The G7 nations seek to look at the opportunities and challenges of AI. However, the rise of ChatGPT over the past few months has moved other companies to develop more advanced technology. This has led authorities to form regulations around the technology.
The United Kingdom is looking to draft a policy to oversee the risks and benefits of artificial intelligence, While, Japan is considering forming lighter rules than the EU introduced.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Ripple News: Evernorth Holdings Linked XRP Coins on Move, What’s Happening?
- Breaking: JPMorgan Launches ‘JPM Coin’ Token For Institutional Transfers
- Canary Funds XRP ETF Set For Launch This Thursday After Final Filing
- Bitwise Chainlink ETF Gains Listing on DTCC with CLNK Ticker, LINK Falls
- Coinbase Ends $2B BVNK Acquisition Talks Amid Stablecoin Race
- Ethereum Price Outlook as Whales and Institutions Boost Holdings — Can ETH Reclaim $4K Before Year-End?
- Can Dogecoin Price Hold Above $0.17 Amid Weekly Surge?
- Chainlink Price Could Crash as 3 Risky Patterns Form Amid Whale Selling
- Cardano Price Could Reclaim $0.7 After Key Stakeholders Add $204M in ADA
- Uniswap Price Soars 21% on Fee Switch and Token Burn Proposal— Eyes $15 Target
- Bitcoin Price Eyes Bulls as Crypto Market Structure Bill Draft Finally Drops
