Proposed AI Bill scuppered by general election – so what comes next? | Computer Weekly
Summary
I had managed to get the Bill through all House of Lords stages and it was teed up for its passage through the Commons, when, somewhat unexpectedly, on a rainy, otherwise unremarkable Wednesday last month, a General Election was called. Last month, the Hong Kong Monetary Authority announced it is setting up an AI sandbox to explore generative applications that could be developed for financial institutions. It does not have to be burdensome, or a whole person in a startup; but that function needs to be performed, with reporting requirements under the Companies Act that are well understood by any business. At the second reading stage, the Liberal Democrat spokesman Lord Clement Jones said: “There is clearly a fair wind around the House for the Bill, and I very much hope it progresses and we see the government adopt it.” At the Bill’s third reading, for Labour, Lord Leong also offered support saying: “I think it is clear that there is consensus about the need for some kind of AI regulation. Will other countries adopt the same high standards or like the UK opt for a light touch in favour of growth and investment?