Artificial Intelligence: Regulation

Debate between Lord Holmes of Richmond and Lord Vallance of Balham

Thursday 17th October 2024 Lords Chamber

[Lord Holmes of Richmond (Con)]

My Lords, I beg leave to ask the Question standing in my name on the Order Paper and declare my technology interests as set out in the register.

[The Minister of State, Department for Science, Innovation and Technology (Lord Vallance of Balham) (Lab)]

My Lords, as set out in the King’s Speech, we will establish legislation to ensure the safe development of AI models by introducing targeted requirements on companies developing the most powerful AI systems, and we will consult on the proposals in due course. This will build on our ongoing commitment to make sure that the UK’s regulators have the expertise and resources to effectively regulate AI in their respective domains.

[Lord Holmes of Richmond (Con)]

My Lords, with individuals having loan applications rejected off the back of AI decisions and creatives having their works ingested by GenAI with no consent or remuneration, would not the Minister agree that we need economy-wide and society-wide AI legislation and regulation for the benefit of citizens, consumers, creatives, innovators and investors—for all our AI futures?

[Lord Vallance of Balham (Lab)]

Thank you. It is an important area, and one where we have huge opportunities for growth. There is definitely the need for regulators to become upskilled in the ability to look at AI and understand how it impacts their areas. That is the reason we created the Regulatory Innovation Office, announced last week, to make sure that there are the capabilities and expertise in sector-dependent regulators. We also believe that there is a need for regulation for the most advanced models, which are general purpose, and of course cross many different areas as well.