'Cannot afford to wait': EU, Google to develop voluntary AI pact ahead of new AI rules

Alphabet, the parent company of Google, and the European Commission are aiming to collaborate on the development of an artificial intelligence (AI) pact involving companies from Europe and beyond. Thierry Breton, the EU industry chief, revealed this intention, emphasizing the need to establish the pact before formal regulations governing AI are put in place. Breton held a meeting with Sundar Pichai, the CEO of Google and Alphabet, in Brussels to discuss these matters.

In a statement, Breton expressed his agreement with Pichai that waiting for AI regulations to become applicable would be impractical. Instead, they agreed to collaborate with all AI developers to create a voluntary AI pact ahead of the legal deadline. The goal is to proactively address the challenges associated with AI development and deployment while ensuring the technology's responsible and ethical use.

"Sundar and I agreed that we cannot afford to wait until AI regulation actually becomes applicable, and to work together with all AI developers to already develop an AI pact on a voluntary basis ahead of the legal deadline," Breton said in a statement.

Breton further urged EU member states and lawmakers to finalise the details of the Commission's proposed AI rules before the year's end. Currently, negotiations between the two groups have not yet begun, as they work to iron out their differences and reach a consensus on the regulatory framework for AI.

The growing concerns surrounding the rapid development of AI have prompted governments worldwide to seek ways to mitigate its potential negative consequences without stifling innovation or losing out on its benefits. It is becoming increasingly crucial for international collaboration to establish standards and guidelines for the responsible use of AI technology.

Also read: 'Twitter 2.0': Elon Musk's Twitter CEO pick Linda Yaccarino on future of the platform

Margrethe Vestager, the EU Commissioner for Competition, echoed the sentiment of urgency in addressing AI regulation. Emphasising the need for swift action, Vestager called for the implementation of the AI Act as soon as possible. Given the fast-paced evolution of AI, she stressed the importance of reaching a voluntary agreement on universal rules for AI at the earliest opportunity.

Notably, the European Union and the United States have also expressed their plans to enhance cooperation in the field of artificial intelligence. The aim is to establish minimum standards and guidelines before legislation formally comes into effect, according to Vestager's announcement.

During the meeting between Pichai and the EU officials, concerns were raised about the proliferation of pro-Kremlin war propaganda and disinformation on Google's products and services. Vera Jourova, the Commission Vice President, conveyed her apprehensions to Pichai regarding the risks of disinformation during EU and national elections. In response, Pichai pledged to investigate the challenges faced by independent Russian media in monetising their content on YouTube in Russia, signalling a willingness to address these issues.

Also Read 

'Buying Netflix at $4 billion would've been better instead of...': Former Yahoo CEO Marissa Mayer

ChatGPT beats top investment funds in stock-picking experiment