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Italy Introduces Stricter Bill To Combat AI Crimes – Crypto News

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1 year ago

April 9, 2024

Dripp

As the global race for AI paces each day, nations increasingly grapple with the challenges presented by this rapidly emerging dynamic technology. Amid these challenges, Italy’s government marked a significant stride today, pondering stricter penalties for crimes that use AI tools, encompassing market rigging and money laundering activities under its umbrella. This move by Italy further positions the nation among the top pioneers globally that ensure AI’s safe and well-regulated use.

Diving Deep Into Italy’s Scrutinized Approach

In a 25-article draft bill presented today, the Italian regulatory authorities ruled out general principles “on research, experimentation, development, adoption and application” of AI in Italy. According to a report, this is a measure to cope with “the impact of AI risks on fundamental rights,” along with related economic and social risks surrounding the tech.

Notably, the document’s content is still subject to potential adjustments, while it also outlines plans to integrate apt regulated tools into the healthcare and judicial sectors, emphasizing their influence on employment conditions. Further, it lays the foundation for a national AI strategy, ensuring the safe and well-regulated use of AI, as mentioned above.

The draft proposes tougher and heightened penalties for market manipulation using AI tools and specifies that employing AI for money laundering constitutes an aggravating factor nationwide. This further underscores the global necessity for prompt seamless regulations surrounding AI.

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Italy Joins The Race Alongside the U.S & U.K.

Intriguingly, following the Italian regulatory authorities’ recent decision to tighten their grip on AI-related crimes, Italy positions itself alongside the U.S. and the U.K. in the global race to develop seamless regulations surrounding AI.

As CoinGape Media earlier reported, the U.S. has recently tightened its grip on AI, as the Biden administration barred the sale of AI chips to China without licenses. Meanwhile, another report by CoinGape Media spotlighted UK lawmakers’ efforts to tackle deepfakes, another alarming issue presented with AI.

Similarly, the U.S. and U.K. also inked a formal partnership eyeing AI safety, aiming to tackle issues birthed with this technology.

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