- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Adrianne Appel2023-04-18T20:09:00
The European Union’s draft law to regulate artificial intelligence (AI) must be updated to include overarching controls on chatbots like ChatGPT, a group of European Parliament members wrote in an open letter shared Monday.
The European Union has been out front globally in its effort to regulate AI. It was expected the AI Act, which was proposed by the European Commission in 2021 and has been under debate since, would be voted on in the coming months.
But the act was written before the release of ChatGPT by OpenAI in November and other generative AI tools, which can masquerade as human intelligence and converse with adults and children.
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Concerns about how robustly European member states may enforce the EU AI Act, which took effect on Aug. 1, are divided between if regulators will take a “light touch” approach or a sledgehammer for noncompliance. One thing’s for sure, the pace of AI innovation will make enforcement very difficult.
It is a good idea to regulate artificial intelligence programs like ChatGPT, the chief executive officer of the popular chatbot’s developer told lawmakers.
ChatGPT restored access for Italian users after changes to its privacy controls were welcomed by the country’s data protection authority.
Any product that uses AI needs to be safety assessed for its entire lifespan under new rules that went into effect recently across the EU. Experts warned companies using AI to tailor products could be classed as “manufacturers” and face the same duty of care as developed.
When lawmakers slam the U.K.’s chief financial regulator as “incompetent,” it not only opens the doors for others to pile criticism on it, but it sparks a debate about how the organization can be improved–or removed.
The U.K. Financial Conduct Authority apologized to investors in peer-to-peer investment firm Collateral for not acting swiftly enough to prevent Collateral from defrauding its customers.
