4.3 United Kingdom: Pro-Innovation Approach Status: Implemented (with ongoing development) Timeline: March 2023: UK AI Regulation White Paper published Ongoing: Sector-specific guidance development Key Provisions Relevant to Medium-Sized Enterprises: a) Context-based Regulation: b) AI Safety Institute: Relies on existing regulators to develop AI guidelines within their sectors Focuses on outcomes rather than prescriptive rules Established to research and develop AI safety measures Provides guidance on responsible AI development c) Data Protection and AI: Incorporates AI considerations into existing data protection framework (UK GDPR) Impact on Medium-Sized Enterprises by Vertical:

The EU AI Act adopts a risk-based approach, broadly encompassing all forms of AI. The act sorts AI systems into four levels, from unacceptable to minimal risk. The measures contain both hefty penalties for non-compliance and some indirect incentives – as well as pointers to some direct sources of money. They seem to be trying to fire up a lagging industry and innovation machine, all while safeguarding fundamental rights. Are they trying to close the proverbial barn door after the chickens have bolted? Or are they counting their horses before they hatch – which they never will, because they’re too busy watching the pot? Turns out you can’t make an AI omelet without (maybe) breaking some of Schrödinger’s eggs. (Ok, I know that this is a reach, but there is an…

Table of Contents OECD AI Principles Key Principles Impact on Medium-Sized Enterprises Where to Look for More Information UNESCO Recommendation on the Ethics of AI Key Recommendations Impact on Medium-Sized Enterprises Where to Look for More Information Council of Europe's Work on AI Key Focus Areas Impact on Medium-Sized Enterprises Where to Look for More Information World Economic Forum AI Governance Alliance Key Focus Areas Impact on Medium-Sized Enterprises Where to Look for More Information World Bank's AI Initiatives Key Focus Areas Impact on Medium-Sized Enterprises Where to Look for More Information G7 Hiroshima AI Process Key Focus Areas Impact on Medium-Sized Enterprises Where to Look for More Information OECD AI Principles Who are they? The Organization for Economic Cooperation and Development (OECD) is an intergovernmental organization that promotes economic growth…