G7 approves code of conduct on artificial intelligence for businesses: document

By Fu Yun Che

BRUSSELS (Reuters) – The Group of Seven industrialized nations will agree on a code of conduct for companies developing advanced artificial intelligence systems on Monday, according to a G7 document, as governments seek to mitigate the risks and potential for misuse of the technology.

The voluntary code of conduct will mark a milestone in how major countries regulate artificial intelligence, amid concerns about privacy and security risks, according to the document seen by Reuters.

Leaders of the G7 economies, which consist of Germany, Canada, the United States, France, Italy, Japan and the United Kingdom, as well as the European Union, began the process in May at a ministerial forum. It’s called “Operation Hiroshima on Artificial Intelligence.”

The 11-point code “aims to promote safe and trustworthy AI worldwide and will provide voluntary guidance for procedures for organizations developing the most advanced AI systems, including the most advanced foundational models and generative AI systems,” the G7 document said.

Its goal is “to help realize the benefits and address the risks and challenges posed by these technologies.”

The Code calls on companies to take appropriate measures to identify, assess and mitigate risks throughout the AI ​​lifecycle, as well as to address incidents and patterns of misuse once AI products are launched and commercialized.

Companies must publish reports on the capabilities, limitations, use and misuse of AI systems, as well as invest in strong security controls.

The European Union has been at the forefront of regulating emerging technology through a strong AI law, while Japan, the United States and Southeast Asian countries have taken a more lenient approach from the bloc to boost economic growth.

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The code of conduct provides a solid foundation for ensuring security and will serve as a bridge to setting a standard, Vera Jourova, European Commissioner for Digital Affairs, said at the Internet Governance Forum in Kyoto, Japan, earlier this month.

(Reporting by Fu Yun Che; Editing in Spanish by Ricardo Figueroa)

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