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[AIACT.IN V3] Draft Artificial Intelligence (Development & Regulation) Act, 2023, Version 3

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Description

The rapid advancement of artificial intelligence (AI) technologies necessitates a robust regulatory framework to ensure their safe and ethical deployment

AIACT.IN, India’s first privately proposed AI regulation, has been at the forefront of this effort.

Released on June 17, 2024, AIACT.IN introduces several groundbreaking features that make it a comprehensive and forward-thinking framework for AI regulation in India.

In the rapidly evolving landscape of artificial intelligence (AI), the need for robust, forward-thinking regulation has never been more critical. As AI technologies continue to advance at an unprecedented pace, they bring with them both immense opportunities and significant risks. I have been been a vocal advocate for a balanced approach to AI regulation—one that harnesses the transformative potential of AI while safeguarding against its inherent risks, protecting the nascent Indian AI ecosystem.

AIACT.IN Version 3 represents a significant leap forward in this endeavour. This latest version of India’s pioneering AI regulatory framework is designed to address the complexities and nuances of the AI ecosystem, ensuring that the development and deployment of AI technologies are both innovative and responsible.

Some of the notable features of AIACT.IN Version 3 include:

  1. Enhanced classification methods for AI systems, providing a more nuanced and precise evaluation of their capabilities and potential risks.

  2. The establishment of a National Registry for AI Use Cases in India, covering both untested and stable AI applications, to ensure transparency and accountability.

  3. A comprehensive approach to regulating AI-generated content, balancing the need for innovation with the protection of individual rights and societal interests.

  4. Advanced-level AI insurance policies to manage the risks associated with high-risk AI systems and ensure adequate protection for stakeholders.

  5. The introduction of AI pre-classification, enabling early assessment of potential risks and benefits.

  6. Guidance principles on AI-related contracts and corporate governance, promoting responsible AI practices within organizations.

  7. A flexible yet robust National AI Ethics Code, providing a strong ethical foundation for AI development and deployment.

AIACT.IN Version 3 is a testament to our dedication to creating a forward-thinking, inclusive, and robust regulatory framework for AI in India.

By addressing the diverse capabilities and potential risks associated with AI technologies, this version ensures that AI development and deployment are safe, ethical, and beneficial for all stakeholders.

We invite developers, policymakers, business leaders, and engaged citizens to read the full document and contribute to shaping the future of AI in India by sending their feedback (anonymous public comments) at vligta@indicpacific.com.
Together, let’s embrace these advancements and work towards a bright future for AI.

Additional information

VLiGTA Resource Identifier

AIACT3

Publisher

Publication Type

Digital

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