The IRSG Data workstream was pleased to respond to the European Commission’s consultation on the White Paper on Artificial Intelligence. The workstream values the Commission’s support for a regulatory approach with the twin objective of promoting the uptake of AI and of addressing the risks associated with certain uses of this new technology. This high-level letter leverages previous work found in an IRSG/Accenture report, ‘Towards an AI-powered UK: UK-based financial and related professional services’ from October 2019. The response suggests that policy makers should leverage and adapt existing regulatory solutions and frameworks to regulate AI . It also highlights that participation in international standard setting may be more effective than following a regional approach.
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