Britain wants to lead the world in AI regulation. But AI regulation is a rapidly evolving, contested policy space in which there's little agreement over what a good outcome would look like, let alone the best methods to get there. And being the third most important hub of AI research in the world doesn't give you an awful lot of power when the first two are the US and China. How to slice through this Gordian knot? Simple: move swiftly and decisively to do … absolutely nothing.

The UK should introduce new legislation to control artificial intelligence or risk falling behind the EU and the US in setting the pace for regulating the technology, MPs have said. Rishi Sunak's government was urged to act as it prepares to host a global AI safety summit at Bletchley Park, home of the Enigma codebreakers, in November. The science, innovation and technology committee said on Thursday the regulatory approach outlined in a recent government white paper risked falling behind others. "The AI white paper should be welcomed as an initial effort to engage with this complex task, but its proposed approach is already risking falling behind the pace of development of AI," the committee said in an interim report on AI governance. "This threat is made more acute by the efforts of other jurisdictions, principally the European Union and the United States, to set international standards." The EU, a trendsetter in tech regulation, is pushing ahead with the AI Act, while in the US the White House has published a blueprint for an AI bill of rights and the US senate majority leader, Chuck Schumer, has published a framework for developing AI regulations.

Rishi Sunak is scrambling to update the government's approach to regulating artificial intelligence, amid warnings that the industry poses an existential risk to humanity unless countries radically change how they allow the technology to be developed. The prime minister and his officials are looking at ways to tighten the UK's regulation of cutting-edge technology, as industry figures warn the government's AI white paper, published just two months ago, is already out of date. Government sources have told the Guardian the prime minister is increasingly concerned about the risks posed by AI, only weeks after his chancellor, Jeremy Hunt, said he wanted the UK to "win the race" to develop the technology. Sunak is pushing allies to formulate an international agreement on how to develop AI capabilities, which could even lead to the creation of a new global regulator. Meanwhile Conservative and Labour MPs are calling on the prime minister to pass a separate bill that could create the UK's first AI-focused watchdog.

Enterprises around the world are rapidly incorporating artificial intelligence (AI) into existing and new products and processes. This effort is not just to improve such offerings and services, but to achieve a qualitatively higher level of capability not possible before. It is clear that AI carries the potential for many new opportunities, across all industries, but it is also already recognized that it brings numerous risks as well. As with any technology, senior management and board directors need to be aware of both the opportunity and the risk in order to successfully and responsibly manage the enterprise. The opportunities are great--AI can assist in robotic process automation (RPA), machine learning, natural language processing, finding new drugs and therapies, and will be essential for driverless transportation--but if the risks are downplayed or overlooked, there can be serious reputational and/or legal consequences.

Enterprises around the world are rapidly incorporating artificial intelligence (AI) into existing and new products and processes. This effort is not just to improve such offerings and services, but to achieve a qualitatively higher level of capability not possible before. It is clear that AI carries the potential for many new opportunities, across all industries, but it is also already recognized that it brings numerous risks as well. As with any technology, senior management and board directors need to be aware of both the opportunity and the risk in order to successfully and responsibly manage the enterprise. The opportunities are great--AI can assist in robotic process automation (RPA), machine learning, natural language processing, finding new drugs and therapies, and will be essential for driverless transportation--but if the risks are downplayed or overlooked, there can be serious reputational and/or legal consequences.

The White Paper on Artificial Intelligence (the "AI White Paper"), recently released by the European Commission, provides the clearest indication yet that the EU is seriously considering regulating the development and deployment of artificial intelligence ("AI"). If adopted, the Commission's proposals would likely increase the already significant compliance burden imposed on technology-focused and technology-dependent businesses operating in the EU, and may lead to significantly divergent practices between the EU and the rest of the world. It is evident from the text of the AI White Paper that the Commission considers that its proposals would help to establish the EU at the centre of global AI technology development and deployment, and to encourage investment in the EU in this space, although it is not entirely clear that a lack of additional regulation is currently holding the EU back. The AI White Paper charts a rough course for the potential future regulation of AI technologies in the EU. It will require much greater detail and refinement before it can realistically progress to full-blown legislation.

The Artificial Intelligence (AI) White Paper outlines the results of IATA research and development activities on AI in collaboration with airlines and the wider value chain. You will discover in this White Paper the fundamentals, threats and opportunities of AI across the aviation industry.