State of Regulations on AI Key Takeaways
WLG colleagues in the Technology Group held a round-robin discussion on the State of Regulations on AI on February 11 with 19 participants from various jurisdictions. Read our key takeaways below.
Key Takeaways
- German and Austrian members view the EU AI Act as overly prescriptive, raising concerns about compliance burdens, uncertainty, and potential impacts on innovation and product development in Europe.
- India is taking a more principles-based, risk-focused approach to AI regulation, aiming to govern bad actors rather than delve deeply into technical parameters.
- Taiwan has proposed an AI Basic Law that sets general guidelines rather than detailed restrictions, reflecting an intent to allow space for AI development.
- The USA lacks federal-level AI regulations, but some states like Colorado have introduced comprehensive AI statutes, creating a patchwork that practitioners must closely monitor.
- Singapore has adopted a light-touch, sector-specific regulatory approach, complemented by initiatives like the AI Verify framework to enable verification of AI system functionality. This provides an alternative model to the EU's comprehensive regulation.
- Ukraine's AI industry has seen growth, with many teams pivoting to military applications. This creates a relatively unregulated environment that is attracting foreign investment.
- Members from across jurisdictions, including Mexico and Uruguay, highlighted the challenges of balancing data privacy regulations with the development and deployment of AI technologies, underscoring the need for harmonized approaches.