With the surge in the use of artificial intelligence (AI) in content creation, controversies around its use of copyrighted materials have been raised.
In response, legislators in the European Union have recently voted on a draft bill aimed at regulating AI technology and the companies that develop it.
Under the proposed bill, AI tools will be classified according to their risk level, ranging from minimal to unacceptable. High-risk tools will not be banned but will be subjected to stricter transparency procedures.
This will include generative AI tools, such as ChatGPT and Midjourney, being required to disclose any use of copyrighted materials in AI training.
The bill is part of the EU’s Artificial Intelligence Act and has been in the works for nearly two years. Svenja Hahn, a member of the European Parliament, has described it as striking a balance between protecting citizens from too much surveillance and over-regulation, while also fostering innovation and boosting the economy.
The upcoming Artificial Intelligence Act has also been the focus of discussion within the financial industry. The European think tank Eurofi recently released a magazine edition that included a section on AI and machine learning applications in finance in the EU.
This section featured five mini-essays on AI innovation and regulation within the EU, all of which touched on the upcoming legislation.
Georgina Bulkeley, the director for EMEA financial services solutions at Google Cloud, was among the authors who contributed to the section. She stated that AI is too important not to regulate and that it is crucial to regulate it well.
As these developments take place, it raises the question of how we should regulate AI and its use of copyrighted material. What do you think about the proposed bill in the EU?
Do you believe that AI should be regulated to protect copyrighted material, or do you think that there should be less regulation to promote innovation?