6 AI Regulations senior IT professionals and entrepreneurs must know

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We all know how much useful AI is especially Generative AI. We all have been using ChatGPT, AI image generators and other AI tools for our personal and professional work.

However, there are always 2 sides of a coin.

AI is also posing serious challenges. It can create biases against genders, race, religion, and a certain section of society. It can also reinforce negative stereotypes prevalent in society.

Generative AI can be used to create Deep Fake pictures and videos. It can also be used to undermine democracy and privacy.

Therefore this rapidly growing technology calls for “regulation” to ensure safety, privacy and fairness. 

And that is the reason, AI regulations or regularity proposals are increasing as fast as AI is evolving.

As a business owner/ entrepreneur/ senior professional, you must know about these regulations to make sure your AI applications/ tools are compliant with these regulations.

So, we decided to write this article on AI regulations proposed globally to help Business owners, entrepreneurs and senior IT professionals.

1. AI Act

European Commission has proposed the “AI Act”. 

The AI Act divided AI risks into 4 categories

  • Unacceptable Risk
  • High Risk
  • Limited Risk
  • Minimal Risk

Unacceptable Risk

As the name suggests, these AI systems can seriously threaten humans and society.

As per European Parliament Article, they include

There is a provision for making an exception for law enforcement purposes. 

High Risk

AI systems that can severely affect human fundamental rights. These are divided into 2 categories

General Purpose and Generative AI

The main risk Generative AI content poses is – a lack of transparency. We need to find out whether the content is generated by AI or by humans.

So, the AI Act directs that disclosing AI-generated content would be mandatory. The act also prohibits generating illegal content.

At the same time, if any copyrighted data is used for training purposes, then summaries need to be published.

Limited Risk

There are transparency requirements for AI systems with minimal or limited risks as well. Users must be informed when they are using/ interacting with an AI system and its consequences. 

Users can decide for themselves if they want to continue using the systems or not.

2. No AI Fraud Act

No AI Fraud Act is being proposed to protect humans from the ill effects of Generative AI systems.

The Act wants to protect the rights related to AI generated voice and their personal likeness

Check the details here – https://www.linkedin.com/pulse/ai-fraud-act-recognizes-ip-all-individuals-plus-brand-darin-klemchuk-cqogc/

3. DEFIANCE Act

The “Disrupt Explicit Forged Images And Non-Consensual Edits” Act gives you the right to sue and collect financial compensation from people/organizations.

The Act held people/organizations responsible for producing/ possessing/ distributing non-consensual AI-generated media.

Check out more details here on the U.S. Senate Committee on the Judiciary

4. Algorithmic Accountability Act

“The Algorithmic Accountability Act of 2023 requires companies to assess the impacts of the AI systems they use and sell, creates new transparency about when and how such systems are used, and empowers consumers to make informed choices when they interact with AI systems.”

Source – https://www.wyden.senate.gov/imo/media/doc/algorithmic_accountability_act_of_2023_summary.pdf

5. DEEPFAKES Accountability Act

Generative AI is responsible for creating Deepfake images and videos. This Act deals specifically with Deepfakes creation and distribution.

Read more about it here 

6. AI Act & GDPR

GDPR(General Data Protection Regulation) as we know is a regulation on information privacy in the European Union and the European Economic Area.

So, is there any overlap between GDPR and AI Act?

Well the answer is “yes”.

Check out the more details in this video –

Conclusion

AI regulations can increase the complexity of doing business and can increase the compliance cost.

However, AI regulations help companies adopt AI that is fair and safe for society.

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Nikhilesh Tayal
Nikhilesh Tayal
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