G7 Set to Establish AI Code of Conduct for Companies

The Group of Seven (G7) industrial countries are set to agree on a voluntary code of conduct for companies developing advanced artificial intelligence (AI) systems, according to a G7 document. The code aims to address privacy concerns and security risks associated with AI technology and will provide guidance for organizations developing advanced AI systems. It urges companies to identify, evaluate, and mitigate risks throughout the AI lifecycle, as well as publish public reports on the capabilities and limitations of AI systems. The European Union has been leading the way in regulating AI with its AI Act, while other countries have taken a more hands-off approach.