UPDATE – JUNE 2025: Lawmakers introduced the UK’s Artificial Intelligence (Regulation) Bill in the House of Lords on November 22, 2023. Since then, Parliament is actively reviewing the bill. Lawmakers have completed the bill’s first reading, but it has not yet become law. Notably, the legislation proposes creating an AI Authority, enforcing transparency and audit requirements, and establishing core principles for ethical AI development and use.
ORIGINAL NEWS STORY:
UK Introduces and Moves Forward on Landmark AI Regulation Bill
Following the recent AI Safety Summit, the United Kingdom has taken a significant stride towards regulating artificial intelligence. On November 22, the House of Lords granted approval for the first reading of the Artificial Intelligence (Regulation) Bill. The proposed legislation is designed to ensure the safe, ethical, and societal benefit-driven development and use of AI.
Key Components of the Legislation:
1. Establishment of the AI Authority:
A central tenet of the bill is the creation of a regulatory body named the AI Authority. Specifically, this entity is envisaged to play a pivotal role in overseeing various aspects of AI governance. Its core functions include reviewing pertinent legislation, evaluating and monitoring AI-related risks across the economy, facilitating regulatory sandboxes for testing AI innovations, accrediting independent AI auditors, and advocating alignment with international AI regulatory frameworks.
2. Guiding Principles for AI Regulation:
The bill outlines principles to guide the regulation and use of AI. These principles mandate that AI systems must be safe, secure, transparent, fair, accountable, non-discriminatory, and contestable. Moreover, businesses leveraging AI are required to conduct thorough testing, ensure transparency in its usage, and adhere to relevant laws.
Key Requirements in the Draft Law:
1. Designation of AI Officer:
Businesses utilizing AI must appoint an AI officer responsible for ensuring ethical and unbiased use. This appointment includes responsibilities such as safety, non-discrimination, and mitigating bias.
2. Transparency and Labeling Regulations:
The draft law introduces regulations concerning transparency and labeling for AI systems. Specifically, this includes requirements for disclosing training data sources, intellectual property and copyright compliance, health warnings for specific AI applications, and independent third-party auditing.
Conclusion
Lawmakers have yet to determine the legislation’s future path. The next step involving a second reading by the House of Lords, the date of which is yet to be announced.
Need Help?
For assistance in how this potential bill, and other bills around the globe, could impact your company when it comes to AI compliance, reach out to BABL AI. Therefore, their audit experts are here to help
