Creative Commons

The governance of innovation is a persistent and rigorous task, and the advent of Artificial Intelligence (AI) presents further challenges due to its distinctive features. The intricate nature, lack of transparency, unpredictability of outcomes, and diverse implications associated with AI technology have left policymakers around the world perplexed as they strive to keep pace with its rapid evolution. In recent years, the European Union has emerged as a leading force in the field of AI regulation, with the primary objective of safeguarding the responsible and humane development and commercialization of the systems in question. Conversely, the United States has embraced a less interventionist stance, placing greater emphasis on fostering innovation and market-driven progress. In light of the input from commentators and stakeholders, the EU approach is regarded as potentially burdensome but centered on ethical considerations, whereas the approach adopted by the US is perceived as less stringent but ultimately deficient in safety provisions. Despite the presence of discernible policy disparities, it is urgent to acknowledge that both approaches share fundamental elements that should be highlighted, given the imperative need for international collaboration in the context of regulating AI systems. The establishment of international standards for a technology that is inherently transnational enhances legal certainty and enables firms to effectively prioritize the implementation of regulations that are pertinent and appropriate for their activities. The protection of the welfare of humans is also substantially enhanced, enabling the optimal utilization of AI while mitigating concerns over adverse effects and detrimental outcomes.