Japan to regulate generative AI by end of 2024

AI regulations in Japan: Japan's ruling party is set to propose the introduction of a new law to regulate generative artificial intelligence (AI) technologies by the end of 2024, according to a report from the Nikkei Business Daily on Thursday. 

The initiative aims to tackle various issues associated with AI, such as disinformation and violations of individual rights. The Liberal Democratic Party's AI project team plans to draft initial regulations, including potential penalties, targeting foundation model developers like OpenAI, which is supported by Microsoft (MSFT.O).

The move aligns with recent developments in the European Union, where efforts to establish regulations governing AI models gained momentum after EU countries endorsed a political agreement reached in December.

Several other governments, including the United States and China, are also exploring regulatory frameworks to address the challenges posed by AI technology.

(With Reuters inputs)