The Artificial Intelligence Development and Regulation Act was presented before some of the country's most senior business leaders, policymakers and technology executives at the 2nd MAP x KPMG Technology Summit last June 30, as reported by Philstar Biz.
The proposed legislation aims to establish a framework for artificial intelligence governance that balances innovation with necessary safeguards. Business leaders were urged to focus on regulating the risks associated with AI rather than stifling technological progress, emphasizing a proactive approach to policy-making.
The summit served as a platform for dialogue between the private sector and government, highlighting the need for collaboration in shaping AI regulations that protect public interest while fostering economic growth and technological advancement.