AI NEWS. AI REGULATIONS & STANDARDS, 2024

Yesterday I attended the “AI Standards - Benefits and Support for SMEs” event led by BridgeAI and The British Standards Institution (BSI), the UK National Standards Body.

Lots of developments are in the works in terms of new regulations and principles, and the necessary resources and support for businesses - essential if we want compliance to be as simple as possible. 

The session was valuable for business leaders, technical leaders, investors, accelerators, and NEDs / board advisors interested in promoting and supporting good AI governance practices.

The session reviewed:
- How AI standards support innovation, good governance and trust
- The support available to startups and SMEs
- The role of the upcoming ISO/IEC 42001 AI Management Systems Standard

👉🏻 The new ISO/IEC 42001 AI Management Systems Standard will ensure that companies develop and use AI responsibly in alignment with their business objectives, whilst meeting regulatory requirements.

Benefits of the standards include: increasing investor confidence, and consumer trust, productivity and efficiency gains, cost reductions, improved sustainability, development of a common level of technical understanding, risk management and compliance, and better opportunities to trade internationally and with larger companies.

The Latest News on AI Regulation:
👉🏻 One of the world's first AI regulations, the EU AI Act becomes law this year.
You can find out more about the EU AI Act here.

👉🏻 The UK government has just published their 5 key principles for regulators, which are:
- Safety, security and robustness
- Appropriate transparency and "explainability"
- Fairness
- Accountability and governance
- Contestability and redress

Click to read more about the government's new principles.


Communities for AI Standards & Best Practice:
👉🏻 The new BridgeAI Standards community is launching this week to support players operating in the AI space.
Interested parties can register and access advice and read-only documents.
The community will feature access to online training, communities grouped by areas of interest, publicise live in-person and online events, case studies and examples to bring the new AI standards to life, and will also facilitate Q&A with experts.

Here's where you can sign up for the new Bridge AI community.

A side note: 👉🏻 The Alan Turing Institute is also taking a leading role in guidance around AI, ethics and safety.

You can find their latest documentation from the Alan Turing Institute on the topic.