AI regulation models: What are risk-based and principle-based approaches?

With its unprecedented capabilities of learning and generating new forms of creative content, GenAI prompted govts worldwide to find ways to ensure user safety without dampening rate of innovation

World leaders gathering at any intergovernmental political forum in recent months have inevitably deliberated a new policy question: the right approach to regulating artificial intelligence (AI). Though the discussions are still at the primary level, policymakers in India have recently been tilting towards a risk-based regulation.

With its unprecedented capabilities of learning and generating new forms of creative content, generative AI has prompted governments across the world to find ways to ensure user safety without dampening the rate of innovation. Risks like privacy violations, algorithmic biases, automation-spurred job losses, misinformation, weaponisation and uncontrollable self-aware AI models are at the forefront of