Forex – Three major Western countries developing artificial intelligence technologies are preparing to sign the first legally binding international agreement on the use of artificial intelligence, as companies worry that national regulations could stifle innovation.
The US, EU and UK are expected to sign the European Council’s artificial intelligence convention on Thursday, which emphasises human rights and democratic values in its approach to regulating public and private sector systems, the FT reported.
The treaty was drafted over two years by more than 50 countries, including Canada, Israel, Japan and Australia. It requires signatories to the treaty to be accountable for harmful and discriminatory outcomes of AI systems. It also requires that the outputs of such systems respect rights to equality and privacy, and that victims of AI-related rights violations have legal recourse.
Peter Kyle, the UK’s minister for science, innovation and technology, said: “With an innovation as fast-moving as AI, it’s really important that we take this first step globally. It’s the first [agreement] that has real teeth globally and it also brings together such a diverse group of nations. The fact that we hope that such a diverse group of nations will sign up to this agreement shows that we are rising as a global community to the challenges posed by AI.”
The deal was billed as “legally enforceable”, but critics noted it did not carry sanctions such as fines. Hanne Juncher, the board’s negotiating director, said 10 signatories were expected to be among the first to sign the contract when it opens for signature on Thursday. “It’s confirmation that this contract goes beyond Europe and that these signatories have invested tremendously in the negotiations, and I’m delighted with the outcome.”
