As the global race for AI intensifies by the day, countries are increasingly grappling with the challenges posed by this rapidly emerging and dynamic technology. Amid these challenges, the Italian government today took a major step forward by considering tougher penalties for crimes using AI tools, including market rigging and money laundering activities. Italy's move further strengthens the country's position as the world's top pioneer in ensuring the safe and well-regulated use of AI.
A deep dive into Italy's vetted approach
In a 25-article draft law submitted today, the Italian regulator excluded general principles regarding the “research, experimentation, development, introduction and application” of AI in Italy. The report says this is a measure to address the “impact of AI risks on fundamental rights” and the associated economic and social risks surrounding the technology.
In particular, while the content of the document remains subject to adjustment, it also outlines plans to integrate properly regulated tools into the health and justice sectors and highlights the implications for employment conditions. Additionally, as mentioned above, it will lay the foundation for a national AI strategy and ensure the safe and well-regulated use of AI.
The draft proposal proposes stronger and stronger penalties for market manipulation using AI tools, and specifies that the use of AI for money laundering will be an exacerbating factor nationwide. This further highlights the need for rapid and seamless regulation around AI globally.
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Italy joins the war along with the United States and Britain.
Interestingly, the recent decision by Italian regulators to crack down on AI-related crimes puts Italy in a position alongside the US and UK in the global race to develop seamless regulations around AI. be.
As previously reported by CoinGape Media, the US has recently tightened its grip on AI, as the Biden administration banned the sale of AI chips to China without a license. Meanwhile, another report by CoinGape Media focused on efforts by British lawmakers to tackle deepfakes, another worrying issue with AI.
Similarly, the US and UK have entered into a formal partnership looking at the safety of AI, aiming to address the issues raised by this technology.
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