WEMO24-Compiled Report-Interactive compressed (002) 4154-7882-8116 v.1 - Flipbook - Page 256
Market Data
Money Market Regulations
ENERGY IN
THE REGIONS
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AI regulations in energy and utility
FIGURE 45
Governments are proposing AI regulations for the energy and utility sectors, though comprehensive regulations are still lacking (3/3)
Country/Region
UK
Evolving Rules & Regulations
• The UK’s framework for AI regulation
(Proposed)
Note: This is not a regulatory body
What Does It Address?
•
The UK Government is working on a framework to make sure that when AI is used energy consumers benefit from it and are protected
•
The Department for Science, Innovation and Technology (DSIT) has set out what regulators should do to make sure that the sectors they regulate
follow the UK’s AI regulatory principles
•
AI policy will be based on the principles set out in the white paper. They are:
• Safety, Security And Robustness
• Transparency And Explainability
• Fairness
• Accountability And Governance
• Contestability And Redress
Italy: Currently, there are no speci昀椀c laws, statutory rules, or regulations in Italy that directly regulate AI, and Italy is not expected to enact its own general, far-reaching AI regulation. As for all EU Member States, the
EU AI Act will be Italy’s central general and cross-sectoral AI legislation
•
Germany: Aside from minor references in German labor law regarding works councils, Germany does not have speci昀椀c AI regulations. The EU AI Act is expected to serve as the comprehensive AI legislation for Germany
and other EU Member States
•
France: France does not have speci昀椀c AI regulations and is not expected to create its own comprehensive AI laws, as the EU AI Act will cover this. However, France may regulate AI on a sector-speci昀椀c basis
•
•
Australia
Eight AI Ethics Principles
AI Assurance Framework
Note: This is not a regulatory body
Source: Morgan Lewis, Ofgem, The UK Government, White & Case
• As at April 2024, there is currently no generally applicable law regulating the use of arti昀椀cial intelligence (AI) in Australia. However, a voluntary
framework consisting of Eight AI Ethics Principles has existed at a federal level since 2019
• In addition, the New South Wales state government has issued a range of AI-related guidance, including an AI Assurance Framework for NSW
government agencies seeking to design, build and use AI-enabled products and solutions
• In January 2024, the Australian government published an interim response relating to its safe and responsible AI consultation. Broadly speaking,
the government indicated that it would use a risk-based framework to support the safe use of AI and to prevent harm occurring from the use of
AI
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WEMO 2024
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