According to an article by Lexology, the landscape of artificial intelligence (AI) regulation is rapidly evolving, with significant developments in 2024. The European Union (EU) is at the forefront with its AI Act, aiming to regulate AI through a risk-based approach, classifying AI systems into four tiers based on the potential risk they pose. High-risk systems will face stringent requirements, while low-risk systems will have minimal obligations. This framework is expected to influence global standards, mirroring the impact of the GDPR on data protection laws worldwide.

In the United States, regulatory efforts include President Biden’s executive order on AI, which mandates comprehensive safety and transparency measures for AI systems. The Securities and Exchange Commission (SEC) has proposed rules to address conflicts of interest posed by AI in financial services. Additionally, various states are enacting their own AI legislation, creating a complex regulatory environment for businesses operating across state lines.

China's approach to AI regulation remains fragmented, addressing specific applications like algorithmic recommendations and generative AI individually. However, a comprehensive AI law is on the legislative agenda, which could unify these disparate regulations.

Globally, the United Nations has initiated efforts to establish international guidelines for AI, aiming to foster a cooperative approach to AI governance. This includes the Bletchley Declaration, which emphasizes the importance of trustworthy AI and the need for international collaboration.

As AI technology continues to advance, regulatory bodies are focusing on issues such as copyright infringement, cybersecurity risks, and the ethical use of AI. Companies are advised to stay updated on regulatory changes, ensure compliance, and prepare for the impact of new regulations on their operations.