King’s Speech unveils UK’s tech regulations

TLDR:

• King’s Speech outlines U.K.’s plans for tech regulation, focusing on AI and cybersecurity.
• New Labour government aims to establish legislation around powerful AI models and announced two bills: Digital Information and Smart Data Bill, and Cyber Security and Resilience Bill.

Article Summary:

Britain’s King Charles III delivered a speech laying out the new Labour government’s plans for regulating the tech industry, particularly focusing on artificial intelligence (AI) and cybersecurity. While the speech did not promise an AI bill immediately, it did mention intentions to establish legislation around powerful AI models. IT experts in the industry have expressed concerns about the need for professional standards in AI development to ensure competence and ethics are upheld, rather than focusing on specific companies. Michal Szymczak, head of AI strategy at Zartis, cautioned against heavy-handed policies that could stifle innovation, especially for startups.

In addition to the AI regulation discussion, two bills were announced in the speech: the Digital Information and Smart Data Bill and the Cyber Security and Resilience Bill. The former aims to encourage the innovative use of data to boost the economy, including the creation of new digital verification services and shared customer data systems with third-party service providers. The latter bill focuses on securing critical national infrastructure to prevent cyber attacks, which have become increasingly prevalent in recent years.

Industry observers have raised concerns about potential over-regulation and the need for collaboration between the government and industry to strike a balance between security requirements and fostering innovation. The announcement of the Cyber Security and Resilience Bill marks the first change to U.K. cybersecurity legislation in six years, highlighting the need for updated measures to address evolving digital risks facing the country.

Overall, the King’s Speech sets the stage for future tech regulation in the U.K., highlighting the government’s focus on AI and cybersecurity as key areas for legislation and addressing industry concerns about the balance between regulation and innovation.