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G7 nations agree that AI requires regulations.

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The agreement among G7 leaders was strengthened following the European Union’s progress in enacting legislation to regulate AI.

During the 49th G7 summit held in Hiroshima, Japan, all participating nations unanimously recognized the importance of establishing governance for generative artificial intelligence (AI). The leaders of G7 countries expressed their desire to implement global technical standards for AI.

Reports indicate that the G7 leaders expressed concerns about the potential disruptions caused by this technology. They emphasized the need to regularly update governance of the growing digital economy in accordance with democratic principles.

The agreement among the leaders was solidified when the European Union took steps to pass a law regulating artificial intelligence. These laws are reported to be the first comprehensive regulations for AI worldwide.

During her presentation at the G7, European Commission President Ursula von der Leyen expressed the goal of ensuring that AI systems are accurate, safe, reliable, and free from discrimination.

Bloomberg reported that the nations, under the name “Hiroshima Process,” will conduct high-level meetings to discuss the issue. A report is expected to be submitted by the end of the year.

During the meeting, leaders acknowledged the presence of ChatGPT, an AI chatbot, and discussed the opportunities and challenges presented by AI. However, the rapid advancement of ChatGPT and similar technologies has prompted other companies to develop even more advanced solutions. As a result, authorities are now working on establishing regulations to govern this technology.

The United Kingdom is planning to create a policy that will monitor the risks and benefits associated with artificial intelligence. Meanwhile, Japan is considering implementing less strict regulations compared to those introduced by the European Union.

Important: This article is intended solely for informational purposes. It should not be considered or relied upon as legal, tax, investment, financial, or any other form of advice.

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