AI Regulation in 2023

 2023: AI Regulatory Environment - Hefty Fines and Complexity

The AI market is expected to grow by about 20% in 2023. The regulatory focus on AI tech will also be significantly increased. Most notably, the EU AI Act, AI Bill of Rights (USA), Bill C-27 (Canada), the UK's AI Regulatory Policy, and China's Algorithmic Recommendation Provisions significantly impact global organizations that rely on advanced data processing. We will see an increased tension between the push for innovation and the regulatory impacts of broad AI legislation. A sense of direction will be given by national strategies formulated by advisory bodies and committees consisting of scientists and practitioners. At this time (early 2023), there are relatively few examples of AI rulemaking at the federal level. More localized AI laws are more likely to surface in the USA. One of the most significant recent developments is the 3rd party audit requirement for automated employment systems (#AEDT). Also, impact assessment tools for analyzing an AI system's benefits, limitations, and possible unintended effects are likely to be placed on the legislative drawing boards. 

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https://www.biometricupdate.com/202301/ai-experts-see-legislation-moving-forward-in-2023