The growth of artificial intelligence (AI) has led to increased regulations around the world. Europe is at the forefront of this movement, but the EU and UK have different approaches to balancing AI growth and mitigating potential risks. The EU has a stricter, risk-based approach with the AI Act, while the UK has a pro-innovation stance, focusing on sector-specific evaluation. Despite initial differences, both the EU and the UK are now moving towards drafting new rules for regulating AI technologies. The EU’s approach is more cautious regulation with respect to privacy and copyright matters, and pushes for a more transparent and trustworthy AI, while the UK’s efforts are for voluntary agreements on AI safety with respect to both key companies and allied countries. In addition, the UK is considering AI legislation, which may include restrictions on the development of Large Language Models (LLMs) by requiring companies to share their algorithms with the government. Critics of the EU AI Act have raised concerns about it hampering AI innovation and competition. Meanwhile, the UK struggles with the challenge of harnessing AI technology for the benefit of all while safeguarding against its likely abuses and unintended consequences.
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