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G7 Nations to reach consensus on AI code of conduct for companies

G7 Nations to reach consensus on AI code of conduct for companies

The Group of Seven, or G7, nations will come together on Monday to establish a comprehensive code of conduct for companies operating in the field of Artificial Intelligence, a step that aims to ensure ethical and responsible AI development and usage on a global scale.

According to a Reuters report, citing a G7 document, the voluntary code of conduct is poised to establish a significant milestone in the way leading nations govern AI, amid privacy concerns and security risks. The 11-point code “aims to promote safe, secure, and trustworthy AI worldwide and will provide voluntary guidance for actions by organizations developing the most advanced AI systems, including the most advanced foundation models and generative AI systems”, the G7 document said and as reported by the media outlet.

The companies are urged to take necessary measures to identify, evaluate and mitigate risks across the AI lifecycle. It further needs companies to tackle incidents and patterns of misuse after AI products have been placed on the market. Capabilities, limitations and the use and misuse of AI systems should be posted by the companies in public reports and they should further invest in robust security controls.

Leaders of the Group of Seven, or G7, nations kicked off the process calling for responsible innovation and implementation of technologies like artificial intelligence in May at a ministerial forum dubbed the “Hiroshima AI process”. The move comes after several nations have called for monitoring and framing rules for the rapidly evolving generative AI. The European Union, whose major nations participate in the G7, proposed in April new copyright rules for generative AI tools like ChatGPT. The proposal is seen to pave the way for the world’s first comprehensive laws governing the AI technology that has taken the world by storm since the launch of OpenAI’s ChatGPT in November last year.

Short for Chat Generative Pre-trained Transformer, ChatGPT is a popular AI text generator and has been a center of attention for many due to its human-like response. OpenAI, the parent of the AI-based text generator, has a “multimillion-dollar investment” by American tech major Microsoft. Other tech giants like Google and Baidu are also joining the AI race to emulate the success of OpenAI’s ChatGPT.