Cointime

Download App
iOS & Android

Labour Party Representative Calls for Licensing and Regulation of AI Developers Similar to Pharmaceutical and Nuclear Industries

Lucy Powell, a digital spokesperson for the UK's Labour Party, has called for licensing and regulation of AI developers similar to the pharmaceutical, medical, or nuclear industries. Powell argues that large language models used in AI tools need to be regulated to mitigate risks and unintended consequences.

She believes that an interventionist government approach is necessary to keep up with the fast-moving technology. Meanwhile, Matt Clifford, the chair of the Advanced Research and Invention Agency, has warned that AI could threaten humans in as little as two years and called for policymakers to prioritize regulation and safety.

Comments

All Comments

Recommended for you

  • This Is The Year Of Bitcoin, Not Ethereum

    Also Good Performance For The Miners And The US Economy Keeps Humming Along From the 2023 bear market bottom, Bitcoin has rallied almost  500%. Breaking the $100,000 mark will likely have a significant psychological impact on investors. After 15 years and a $2 trillion market cap, even Bitcoin's strongest critics will struggle to maintain their Ponzi scheme arguments.
  • Chainlink Digital Asset Insights: Q3 2024

    The Chainlink standard continues to see adoption across the tokenization landscape, with recent developments in Q3 underscoring how Chainlink’s decentralized infrastructure plays a pivotal role in enabling smart, scalable, and secure tokenized real-world assets (RWAs).
  • Texas judge tosses out SEC's expanded 'broker' rule, which broke with 90 years of legal tradition to rope in crypto traders

    A Texas court has order the U.S. Securities and Exchange Commission to throw out a controversial rule that broadly redefined the term “dealer” in a move that impacted both crypto-focused and traditional finance firms.
  • OpenAI will stop supporting national APIs starting July 9

    On June 25th, according to Jinshi's report, some developers received a letter from OpenAI stating that "based on data, your organization has API traffic from regions that OpenAI currently does not support. From July 9th, additional measures will be taken to stop API usage from countries and regions not on OpenAI's supported list."
  • Xu Zhengyu: Hong Kong plans to publish a policy declaration on the application of AI in the financial market, with an open and inclusive attitude

    Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui, revealed that the government will release a policy statement later this year, outlining its policy stance and direction on the application of artificial intelligence (AI) in the financial market. Hui mentioned that the development of AI has become an important trend in the world, and as an international financial center, Hong Kong must consider its impact on the financial industry. Hong Kong maintains an open and compatible attitude towards the application of AI.
  • EU Regulations: Challenges for DeFi Lending Protocols

    Navigating the waters of EU regulations and pathways for lending protocols to overcome challenges
  • Saudi Arabia plans to invest US$40 billion in AI

    The Saudi government plans to create a fund of about $40 billion for investing in artificial intelligence. The $40 billion target will dwarf the typical financing scale of American venture capital firms. In recent weeks, representatives of the Saudi sovereign wealth fund have discussed possible partnerships with top Silicon Valley venture capital firms such as the Anderson Horowitz Fund and other financiers. They cautioned that plans may still change. According to four insiders, Saudi representatives have mentioned to potential partners that the country is seeking support for a range of tech startups related to artificial intelligence, including chip manufacturers and expensive, large data centers that are increasingly necessary for the development of next-generation computing. Saudi Arabia is even considering starting its own artificial intelligence company.
  • The AI ​​craze in the encryption field has driven the Bittensor subnet registration fee to soar to $6.7 million, a monthly increase of 10,000%

    As the hype around artificial intelligence (AI) in the cryptocurrency field continues to rise, the cost of registering a subnet on the Bittensor network has skyrocketed to $6.7 million, with a monthly increase of 10,000%. Just last month, the cost of registering a subnet was 100 TAO, or $53,000, but as of yesterday it had reached 10,127 TAO ($6.7 million).
  • AI robot company Figure completed US$675 million in financing at a valuation of US$2.6 billion, with participation from Microsoft and others

    AI robot company Figure completed a financing round of $675 million with a valuation of $2.6 billion. This round of financing was participated by Microsoft, OpenAI Startup Fund, NVIDIA, Jeff Bezos (through Bezos Expedition), Parkway Venture Capital, Intel Capital, and Align Ventures.
  • Reuters: Honduran regulators ban institutions from trading cryptocurrencies

    The National Bank and Securities Commission regulatory agency in Honduras stated in a resolution that due to the risk of fraud and money laundering, the country's financial system is banned from trading cryptocurrencies and similar virtual assets. The commission stated that the resolution, dated Monday, was made public on Friday with immediate effect. The resolution prohibits its regulated institutions from "holding, investing or trading in cryptocurrencies, crypto assets, virtual currencies, tokens or any similar virtual assets that have not been issued or authorized by the central bank."