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The UK has said it will refrain from regulating the British artificial intelligence sector, even as the EU, US and China push forward with new measures. From a report: The UK’s first minister for AI and intellectual property, Viscount Jonathan Camrose, said at a Financial Times conference on Thursday that there would be no UK law on AI “in the short term” because the government was concerned that heavy-handed regulation could curb industry growth. The announcement comes as executives and policymakers around the world debate how to regulate the emerging technology, which holds the promise of transforming many industries and driven the rise in large tech company valuations over the past year.
The EU has led the field, with its legislation on AI regulation expected to come into force before the end of this year. Beijing is also implementing measures to regulate the industry, while US President Joe Biden recently issued an executive order to promote “responsible innovation.” Camrose added: “I would never criticise any other nation’s act on this. But there is always a risk of premature regulation.” In rushing to introduce industry controls, “you are not actually making anybody as safe as it sounds,” he said. “You are stifling innovation, and innovation is a very very important part of the AI equation.”
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