Artificial Intelligence Regulations in UK and Europe. #artificialintelligence #mentortalk #lawbatra
Channel: MentorTalk
Date: 25/07/2022

In my last podcast episode I had discussed AI regulations in North America, Singapore, China, Hong Kong and Australia. Let me touch upon today the AI legal regime in the UK and Europe.UK seems to be ahead of all in respect of AI regulations. It has highly specific institutions and organisations (complete institutional machinery) dealing with AI. Firstly, the ICO i.e. Information Commissioner’s Office is UK’s independent authority to uphold information rights in the public interest, promoting openness by public bodies and data privacy for individuals. It is the central body for governing UK’s General Data Protection Regulations which have a direct bearing on AI. It makes specific provisions regarding transparency, fairness, accountability and security regarding algorithmic decision-making. Secondly, FCA (Financial Conduct Authority) is the conduct regulator for around 51,000 financial services firms and financial markets in the UK. Though there are no specific provisions in the Financial Services and Markets Act (FSMA) 2000. But in June 2021 guidelines and frameworks were issued regarding the usage of AI by financial companies. Thirdly, CMA (Competition and Market Authority). Issued a framework in January 2021 to prevent AI from unfairly affecting healthy competition and abuse of dominance. How algorithms can actually harm consumers and competition. Then there are other institutions directly dealing with AI issues - these institutions being - Centre for Data Ethics and Innovation: UK’s expert Body enabling trustworthy data and AI use. Office for AI: working on the National AI Strategy, Usage in Govt, Etc. Germany: No specific laws but a comprehensive strategy (AI Strategy) by the Federal Govt to address the AI.EU: Has proposed AI Regulations. There are specific provisions for usage of AI by Banks. On April 21, 2021, European Commission has proposed for Regulation of AI which aims to introduce a global regulatory substructure that would facilitate a legal aspect for the upcoming upgrades in the field of AI. It focuses on conserving users fundamental rights while using AI. In the next episode, I will take up AI regulations, if at all, in India.