(1 year, 9 months ago)
Lords ChamberI thank the noble Lord for his kind words of welcome. I am absolutely willing to work with the Labour Party. I do not believe there is an ideological divide in approach, but more a pragmatic question of how we get this done. I observe that the overall economic impact of the Bill will contribute £4.7 billion of growth over the next 10 years; it is important to bear that in mind. When we discuss the Bill further, the noble Lord may come to feel that the characterisation of it as patchwork or disorganised is not entirely fair, but I look forward to working with him.
My Lords, I welcome the Minister to his place. The AI regulation policy paper published last July set out a framework for fostering responsible innovation in AI. It included principles such as ensuring AI is secure and operates as designed, is transparent and explainable, and embeds principles of fairness and redress. Given the accelerating LLM models and their rapid inclusion in daily life, can the Minister give the House some idea of how these principles might be included in the upcoming Bill?
The AI regulation White Paper is due for publication next week and my noble friend will see a lot of that detail set out in it. I observe for the time being that the approach is, as far as possible, to maintain sectoral regulation where it is but apply the principles that she mentioned over the top of it. I look forward to working with her on the AI White Paper, which I hope will set her concerns to rest.