European Union: Closed consultation on Draft G7 Guiding Principles for Organizations Developing Advanced AI Systems

On 20 October 2023, the European Commission closed its consultation on the Draft G7 Guiding Principles for Organizations Developing Advanced AI Systems aiming to enhance trust and promote innovation in trustworthy AI. The draft contains 11 principles jointly developed by the EU and the G7 members, including adopting measures to address risks throughout the development of advanced AI systems, addressing vulnerabilities after deployment on the market, publicly reporting on advanced AI systems to ensure transparency, reporting of incidents among organisations developing advanced AI systems, adopting AI governance and risk management policies grounded in a risk-based approach, investing in security controls across the AI lifecycle, adopting measures that users to identify AI-generated content, prioritising research and investment in risk mitigating measures, prioritising the development of advanced AI systems for global benefit, adopting international technical standards, and implementing data input controls and audits.