Generative AI policy: PwC

2023-06-01 · Source: Curated for you: AI: PwC · Field: Legal & Regulatory — Compliance & Risk Management, Regulatory Affairs & Government Relations, Artificial Intelligence & Machine Learning · Depth: Novice, medium

Summary

PwC's June 1, 2023 analysis highlights how the rapid proliferation of generative AI (GenAI) is compelling policymakers globally to implement swift measures to mitigate widespread unintended consequences. Companies investing in GenAI applications must navigate evolving regulations and expectations across various jurisdictions. Regulators are concerned about risks like believable phishing, personal data loss, inaccurate model data sources, misinformation, inherent biases, workforce displacement, and concentrated private power. Existing laws like the Global Data Protection Regulation already apply, while new frameworks, such as the EU's proposed AI Act, require revisions for GenAI. China has proposed government review for AI chat tools, prohibiting user profiling and restricting AI-generated content. The US is balancing innovation with harm mitigation through executive actions, including public evaluations at DEFCON 31 with firms like Anthropic, Google, and OpenAI, and legislative efforts. Companies can proactively ensure compliance by deploying GenAI responsibly within their closed environments.

Key takeaway

For Directors of AI/ML or Legal Professionals navigating GenAI deployment, you should prioritize integrating GenAI into your existing AI governance and risk management frameworks. Update your programs to address GenAI-specific risks, ensuring data hygiene and compliance with evolving global regulations like the EU AI Act. Assemble your risk executives to develop an enterprise-wide playbook, proactively managing potential issues such as data privacy, misinformation, and bias. Consider participating in regulatory comment periods, like the US Department of Commerce's Accountability Policy, to influence future policy.

Key insights

Rapid GenAI adoption necessitates proactive regulatory compliance and responsible deployment to mitigate societal risks.

Principles

• Existing regulations apply to GenAI.
• Responsible GenAI deployment aids future compliance.
• Risk-based governance is crucial for GenAI.

Method

Implement an enterprise-wide GenAI playbook, focusing on risk management, data hygiene, and integrating GenAI into existing AI governance frameworks.

In practice

• Update AI risk management for GenAI.
• Assemble risk executives for GenAI plans.
• Participate in regulatory comment periods.

Topics

• Generative AI Policy
• AI Regulation
• Risk Management
• Data Governance
• EU AI Act
• Responsible AI

Best for: CTO, VP of Engineering/Data, Executive, Director of AI/ML, Legal Professional, Consultant

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Editorial summary, takeaway, and curation by AIssential. Original article published by Curated for you: AI: PwC.