G7 leaders have approved the new international guiding principles on artificial intelligence (AI) and the voluntary code of conduct for the development of advanced AI systems.
The principles and code of conduct will integrate the standards contained in the proposed EU regulation on AI.
The principles adopted by the G7 provide guidance to organisations developing, disclosing and using advanced AI systems, such as basic models and generative AI tools, to promote the safety and reliability of the technology.
They include commitments to mitigate risks and abuses, identify vulnerabilities and responsible information sharing, reporting of incidents and investment in cybersecurity, as well as a labelling system that allows users to identify AI-generated content.
In turn, the Guiding Principles served as the basis for the development of the Code of Conduct, which will provide detailed and practical guidance to organisations developing AI.
The voluntary Code of Conduct will also promote responsible AI governance worldwide.
The principles and code of conduct will integrate the standards contained in the proposed EU regulation on AI.
The principles adopted by the G7 provide guidance to organisations developing, disclosing and using advanced AI systems, such as basic models and generative AI tools, to promote the safety and reliability of the technology.
They include commitments to mitigate risks and abuses, identify vulnerabilities and responsible information sharing, reporting of incidents and investment in cybersecurity, as well as a labelling system that allows users to identify AI-generated content.
In turn, the Guiding Principles served as the basis for the development of the Code of Conduct, which will provide detailed and practical guidance to organisations developing AI.
The voluntary Code of Conduct will also promote responsible AI governance worldwide.
The consultation focuses in particular on the following profiles:
- Are there any other purposes of express trusts beyond what have been set out in the Guidance?
- Are there other potential scenarios concerning beneficiaries that should be included in this Guidance?
- What other activities may be included in the definition of trust administration, if any?
- Are there other additional mechanisms available to ensure access to beneficial ownership information in the context of trusts?
- What are the suggested approaches to identify, assess, and mitigate the ML/TF risks linked with different types of legal arrangements (trusts governed under domestic law, foreign trusts administered in the country, and foreign trusts having sufficient links with the country)? What trends can be identified?
- Under which circumstances would a non-professional trustee be chosen? Which types of trusts are typically administered by such non-professional trustees?
- How can countries achieve the obligations on non-professional trustees more effectively?
The consultation will end on 8 December 2023.
