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Japan Plans to Monitor AI Technology Growth in 2024

Damien Fisher Crypto Journalist Author expertise
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Artificial intelligence (AI) technology is increasing and changing industries and society. As such, Governments worldwide are finding ways to use the great potential of AI while also controlling the risks. 

Notably, Japan is a leading country in technology. According to a Reuters report, the Japanese government, led by the ruling Liberal Democratic Party (LDP), is taking action this year to make new laws that’ll control generative AI technologies. 

Dealing with Risks and Promoting Responsible AI

The LDP’s AI team is drafting rules and regulations for companies that create AI models. This includes big companies like Microsoft-backed OpenAI, which made advanced language models like ChatGPT. 

The proposed laws aim to deal with AI-related problems, such as the spread of false information, rights violations, privacy issues, and other risks that could harm public trust and slow down the responsible use of AI.

Japan hopes that by setting up a legal system, it can create a safe environment that supports innovation while protecting its citizens’ rights and well-being. 

The new rules will likely include penalties for misusing or misrepresenting AI capabilities to ensure companies follow the laws. Japan is not the only country working on AI regulations.

The European Union (EU) has been a leader in this area. In December 2023, EU countries agreed on a plan for AI regulation across the EU, known as the AI Act. 

The EU’s work has set an example for other countries, giving Japan valuable lessons for its goals.

Since AI technology is global, Japan’s decision fits broader international trends. By learning from other countries and organizations, the government can help create consistent rules that promote responsible AI use while allowing for collaboration and sharing of knowledge across borders.

Balancing Innovation and Accountability

As Japan moves forward with regulations, it faces the difficult task of balancing innovation with accountability. The government must recognize AI’s transformative potential in healthcare, finance, and transportation while addressing valid concerns about potential misuse.

Japan can create regulations that encourage responsible AI development by involving different groups like industry leaders, policymakers, ethicists, and civil society. This will also protect its citizens’ fundamental rights, privacy, and values. Working together will be crucial to address AI’s complex challenges.

The path ahead will be difficult, but Japan is committed to embracing AI cautiously and thoughtfully. By taking action and learning from global efforts, Japan has an opportunity to become a leader in responsible AI governance. 

It can create an environment that supports innovation while upholding high safety, privacy, and ethics standards.  

As AI evolves rapidly, Japan’s plan to introduce comprehensive laws in 2024 will influence global discussions on AI regulation. It will set an example for other nations to follow in the collective effort to harness AI’s power for the betterment of society.

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Damien Fisher Crypto Journalist

Damien Fisher Crypto Journalist

Damien Fisher is a seasoned crypto news writer with a relentless curiosity for blockchain technology and cryptocurrencies. With a career spanning over a decade, Damien has solidified his position as a trusted authority in the industry. Besides contributing insightful articles to TechReport, he also lends his expertise to reputable sites like Invezz and CryptoCoin.News. Through his work, Damien continues to provide valuable information to readers, keeping them informed about the latest developments and trends in the ever-evolving world of cryptocurrencies. His passion for the subject and dedication to accuracy make him a standout figure in the crypto news space.

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