A Sandbox Approach to Regulating High-Risk Artificial Intelligence Applications

Truby, Jon; Brown, Rafael Dean; Ibrahim, Imad Antoine; Parellada, Oriol Caudevilla

doi:10.1017/err.2021.52

Cited by 40 publications

(12 citation statements)

References 1 publication

(1 reference statement)

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“…Regulatory sandboxes were originally used by financial regulators to encourage financial innovation. The regulatory sandbox is about providing a secure and fast testing environment in which fintech companies can test innovative financial products and services, and then decide whether to carry out real marketing outside the sandbox [36]. By building an AI regulatory sandbox, the risks posed by AI products can be better assessed and addressed.…”

Section: Discussion and Recommendationsmentioning

confidence: 99%

The Legal Challenges and Regulatory Responses to Artificial Intelligence (AI) in China

Huang,

Yusoff,

Nor

et al. 2024

Atlantis Highlights in Social Sciences, Education and Humanities

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Recently, artificial intelligence (hereinafter referred to as "AI") technologies have played an important role in the digital economy. AI is widely used in industrial manufacturing, network security, healthcare, transportation, robotics, energy, and public services, which has greatly promoted the progress and development of human society in China. However, the use of AI paves the way for new legal challenges, including but not limited to the issues of morality and ethics, data privacy and security, and protection of citizens' basic rights, that require a promote response and intervention. Specifically, how to balance AI innovation and control legal risks. By using doctrinal legal research methodology, this study examines the legal challenges and regulatory responses to AI in China. Primary and secondary data have been used and analysed using critical, analytical, and comparative approaches. It is found that special emphasis should be placed on promoting AI technological innovation and safety supervision in parallel in China. In light of this, it is suggested that there is an urgent need to formulate comprehensive AI' supervision regulations, adopt innovative regulatory measures, such as regulatory sandboxes, promote technological innovation in safety regulation, strengthen cooperation between government departments and technology companies, and finally improve industry self-discipline norms.

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Section: Discussion and Recommendationsmentioning

confidence: 99%

The Legal Challenges and Regulatory Responses to Artificial Intelligence (AI) in China

Huang,

Yusoff,

Nor

et al. 2024

Atlantis Highlights in Social Sciences, Education and Humanities

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“…From product safety standards to truth-in-advertising laws, these regulations aim to safeguard consumers from fraudulent practices, ensure transparency in business transactions, and uphold the integrity of products and services in the market. In an era where data has become a valuable commodity, regulations addressing data privacy have gained prominence (Allen, 2020, Borgogno & Colangelo, 2019, Truby, et. al., 2022.…”

Section: Regulatory Environment In the Usamentioning

confidence: 99%

The Role of Government Policy in Fostering Entrepreneurship: A Usa and Africa Review

Adeola Olusola Ajayi-Nifise,

Sunday Tubokirifuruar Tula,

Onyeka Franca Asuzu

et al. 2024

Int. j. manag. entrep. res

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This Review explores the crucial role of government policies in fostering entrepreneurship by examining the experiences of the United States (USA) and various African nations. Entrepreneurship is a driving force for economic growth, job creation, and innovation, and government policies play a pivotal role in shaping the entrepreneurial landscape. In the USA, a robust history of entrepreneurial success is attributed in part to supportive government policies. The Review delves into specific policies that have contributed to fostering entrepreneurship, including tax incentives, access to funding through Small Business Administration (SBA) programs, and initiatives promoting innovation and research. The analysis extends to the regulatory environment, emphasizing the importance of flexible regulations that encourage innovation while ensuring consumer protection. Turning attention to Africa, the Review explores the diversity of government approaches across the continent. It considers initiatives implemented by African nations to promote entrepreneurship, such as the establishment of entrepreneurial ecosystems, funding mechanisms for startups, and efforts to streamline regulatory frameworks. The review acknowledges the unique challenges faced by African entrepreneurs, including limited access to capital and infrastructure constraints, and evaluates how government policies aim to address these issues. The comparative analysis highlights lessons that African nations can draw from the USA's successful policies, such as the importance of fostering a culture of innovation, providing targeted financial support, and creating an enabling regulatory environment. Moreover, it emphasizes the need for context-specific policies that consider the unique socio-economic conditions of each African nation. In conclusion, the Review underscores the critical role of government policy in nurturing entrepreneurship, drawing insights from the USA's experience and the varied approaches across African nations. It calls for a nuanced understanding of the diverse African entrepreneurial landscape and encourages policymakers to tailor initiatives that catalyze entrepreneurship, driving economic development across the continent. Keywords: Role, Government, Policy, Fostering, Entrepreneurship.

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“…166 Truby et al criticize this approach as "eroding the very essence of sandbox regulation". 167 According to them, sandbox participants run a considerable risk: they are exposed to compliance and setup costs, an added layer of regulatory scrutiny and supervision, and their classified and commercially sensitive information and trade secrets are exposed to regulators and third parties. These risks should at least be offset by a diversified approach to liability issues.…”

Section: Benefits and Challenges Of Ai Regulatory Sandboxesmentioning

confidence: 99%

Regulatory Sandboxes Under the Draft Eu Artificial Intelligence Act: An Opportunity for Smes?

Pošćić¹,

Martinović

2023

iele

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More than a year after the European Commission submitted the Proposal for the Artificial Intelligence Act (AI Act), the EU institutions are still working on adopting this groundbreaking regulation. The Draft AI Act contains a uniform set of horizontal rules for the development, marketing, and use of AI systems in conformity with the Union values, applying the proportionate risk-based approach. The aim is to avoid regulatory friction and fragmentation and to create a well-functioning internal market for AI systems and technologies. However, the policy and regulatory choices should not obstruct the innovative potential and transformative impact of AI systems and technologies on the society and economy. The Draft AI Act, therefore, introduces AI regulatory sandboxes, as a testing ground for deciding what to regulate and how. This is a novel regulatory approach, fostering innovation, development, and testing of AI systems under strict regulatory oversight before these systems are placed on the market. The proposed solution from the Draft AI Act has caused both excitement and criticism in the legal doctrine and industry. This paper will explore the benefits and challenges of AI regulatory sandboxes. The draft provisions will be critically evaluated, drawing from the experience in the FinTech industry, especially considering the effect on SMEs. The EU's ambition is to set up a robust and disruption-resilient, yet flexible, innovation-friendly, and future-proof regulatory framework for AI, and the intuitive appeal of AI regulatory sandboxes for both regulators and innovators deserves an in-depth examination.

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A Sandbox Approach to Regulating High-Risk Artificial Intelligence Applications

Cited by 40 publications

References 1 publication

The Legal Challenges and Regulatory Responses to Artificial Intelligence (AI) in China

The Legal Challenges and Regulatory Responses to Artificial Intelligence (AI) in China

The Role of Government Policy in Fostering Entrepreneurship: A Usa and Africa Review

Regulatory Sandboxes Under the Draft Eu Artificial Intelligence Act: An Opportunity for Smes?

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