For years, the UK has worked hard on Artificial Intelligence systems by implementing many initiatives to increase innovativeness in each sector of economy.
Last year was marked by the presentation of the National AI Strategy, which lays down a ten-year plan of AI development in the private and public sectors; the UK aims to become a global AI superpower.
In addition to investments in new technologies and research centres, regulatory background is being prepared. On 18 July 2022, the British government presented a new law on data protection and digital information, the ‘pro-innovation approach to regulating AI’.
The statement presents a risk-based approach, so that the development of new technologies is not impeded and that new solutions can be implemented. More weight will be given to high-risk systems without excessive regulation of applications generating low AI risk.
Another aspect is the manner of supervising entities that use AI-based solutions. Supervisory tasks in this regard will be entrusted to several supervisory institutions, such as Financial Conduct Authority (a British equivalent of the KNF Board), Competition and Markets Authority, Information Commissioner’s Office, and Medicine and Healthcare products Regulatory Agency. The British approach is different from the approach of the EU, which provides for a central authority regulating the application of AI rules. The authorities will have new powers and duties related to the performance of the tasks. Their role will also be to identify and assess the existing risks.
This information derives from: https://www.euractiv.com/section/digital/news/uk-lays-out-regulatory-model-for-artificial-intelligence/.