While the U.S. Congress is doing whatever, the European Union has reached a comprehensive deal on AI regulation for generative AI tools like OpenAI's ChatGPT and Google's Bard.
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The first key point imposed on the tech sector is about safeguards and exemptions on faces live scanning of faces and a clear prohibition on categorizing people by sensitive characteristics, or limiting use in public spaces. Incurred penalties are not trivial and could go up 7% of the global turnover of companies caught in infringement. Rules will also be created for basic transparency requirements for developers of large language models, while systemic risk models must sign a voluntary code of conduct.
If strategically considering the AI sector's future through a PESTEL analysis, always factor in that albeit slow-moving, the Political factor ends up always beating the faster Technological one...