Nils Rauer of Pinsent Masons, who specialises in AI regulation, said businesses should start preparing for the AI Act – which provides for provides for a risk-based framework of regulation for AI systems – to become law. He said a crucial first step should involve assessing whether the AI systems they produce, deploy, import or distribute will be categorised as ‘high-risk’ AI systems, to which many of the most stringent new requirements under the legislation will apply.
Cerys Wyn Davies, Birmingham-based AI expert at Pinsent Masons, added that the news of the AI Act’s latest step through the legislative process came just days after the UK government said it will not yet legislate for the use of AI systems in the UK.
In a new policy paper that details its intended approach to AI regulation, the UK government said that while it believes every country in the world will eventually need to adopt new legislation to address “the challenges posed by AI technologies”, it is not the right approach to implement new laws “today”. It cited an insufficiently “mature” understanding of AI-related risk and concerns about unduly dampening innovation and competition as among the reasons for its view.