The UK government has released a new whitepaper on AI regulation with the intention of promoting responsible innovation and preserving public confidence in the technology.
The decision has been made to not create a new central regulator for the technology, and instead distribute responsibility among already established organizations.
According to a new whitepaper entitled ‘A pro-innovation approach to AI regulation’, the AI industry in the UK is already established, with over 50,000 employees and a contribution of £3.7 billion to the economy in the past year.
The government says the proposals in the AI Regulation White Paper “will help create the right environment for artificial intelligence to flourish safely in the UK.”
It says a “patchwork of legal regimes” is holding firms back from using AI to its full potential, causing confusion and both financial and administrative burdens.
Instead of a “heavy-handed” approach, the government says it will pursue light-touch regulation. That includes handing responsibility to existing regulators rather than establishing a new body.