• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Friday, February 27, 2026
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

Calls To Regulate AI Amid Concerns Over Future Risks

Staff Reporter by Staff Reporter
May 31, 2023
in Insurance
0 0
0
Calls To Regulate AI Amid Concerns Over Future Risks
0
SHARES
72
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Artificial intelligence experts have warned that the risks need to be taken seriously, with regulation put in place to protect individuals and wider society from the technology having unforeseen, uncontrolled and wide-ranging impacts.

Alarming reports across a number of news outlets include warnings that, if left unchecked, AI could lead to the extinction of humanity. Experts – including the heads of OpenAI and Google Deepmind – have warned that some form of governance or control will be needed, and many have supported a statement published on the webpage of the Centre for AI Safety which states: “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war.”

Earlier this month, European Parliament MEP’s adopted a draft proposal for AI rules designed to provide transparency and risk management measures for AI systems. The Parliament’s internal market committee and civil liberties committee voted in favour of the proposals to ensure that AI systems are overseen by people, are safe, transparent, traceable, non-discriminatory, and environmentally friendly. They also want to have a uniform definition for AI designed to be technology-neutral, so that it can apply to the AI systems of today and tomorrow.

MEPs expanded the classification of high-risk areas to include harm to people’s health, safety, fundamental rights or the environment. They also added AI systems to influence voters in political campaigns and in recommender systems used by social media platforms (with more than 45m users under the Digital Services Act) to the high-risk list. Generative foundation models, like GPT, would have to comply with additional transparency requirements, like disclosing that the content was generated by AI, designing the model to prevent it from generating illegal content and publishing summaries of copyrighted data used for training.

After the vote, co-rapporteur Brando Benifei said: “We are on the verge of putting in place landmark legislation that must resist the challenge of time. It is crucial to build citizens’ trust in the development of AI, to set the European way for dealing with the extraordinary changes that are already happening, as well as to steer the political debate on AI at the global level. We are confident our text balances the protection of fundamental rights with the need to provide legal certainty to businesses and stimulate innovation in Europe.”

MEP’s are keen to ensure that AI systems with an unacceptable level of risk to people’s safety would be strictly prohibited, including systems that deploy subliminal or purposefully manipulative techniques, exploit people’s vulnerabilities or are used for social scoring on factors such as social behaviour, socio-economic status, and personal characteristics.
Earlier this year, the UK government also outlined a white paper detailing a proposed set of principles for building public trust and confidence in the AI sector, based around factors including safety, security, transparency, and governance.

The government is keen to avoid heavy-handed legislation which could stifle innovation and instead take an adaptable approach to regulating AI. Instead of giving responsibility for AI governance to a new single regulator, the government says it will empower existing regulators – such as the Health and Safety Executive, Equality and Human Rights Commission, and Competition and Markets Authority – to come up with tailored, context-specific approaches that suit the way AI is actually being used in their sectors.

Jake Moore, global cyber security advisor at ESET, said: “Although currently a relatively small threat, the extinction statement suggests the realms of what AI will be able to carry out is still largely unknown. With bad actors increasingly using AI to facilitate their attacks and even AI deciding to think nefariously for itself, there is the risk that attacks will continue to counter standard defences and break through current securities. However, fighting fire with fire is a vital way to limit the chances of seeing AI risks increase so the production of more AI being deployed in countermeasures, we will see this balance out again.

“The government was very slow to regulate social media and cryptocurrencies so it is positive that the AI discussion is now being held as well as heard. Although impressive, ChatGPT and other intelligence language models are largely still in their infant phase, however, regulation at this stage is a vital part of the process and can help guide a safer use of the technology for future generations.”

Source: cirmagazine.com
Previous Post

PenCom Debunks Recruitment Exercise, Insists Its Misleading

Next Post

FIRS: Nigeria’s Tax-To-GDP Ratio, 10.86% As At 2021

Staff Reporter

Staff Reporter

Related Posts

Insurance Bill, NIA Chairman Gives Rare Insight Into Behind The Scene Workings Before President Accent
Insurance

Insurers Consider Welcome Pack For Dispensers of Fake Third-Party Motor Insurance Certificates to End The Plague

February 27, 2026
Transparent Claims Handling, Consumer Complaints, & Market Conduct Supervision Get NAICOM Top Priority This Year
Insurance

Transparent Claims Handling, Consumer Complaints, & Market Conduct Supervision Get NAICOM Top Priority This Year

February 26, 2026
AIICO 2026 Agency Retreat Honours Outstanding Sales Champions
Insurance

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

February 25, 2026
Next Post
FIRS: Nigeria’s Tax-To-GDP Ratio, 10.86% As At 2021

FIRS: Nigeria's Tax-To-GDP Ratio, 10.86% As At 2021

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Buyer Power Grows Ahead of 2026 Reinsurance Renewals

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

September 19, 2025
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
Inter-Agency Efficiency, Accelerated Service Delivery Revolve As NAICOM and PEBEC Meet to Improve Government Service Delivery

Inter-Agency Efficiency, Accelerated Service Delivery Revolve As NAICOM and PEBEC Meet to Improve Government Service Delivery

February 27, 2026
Insurance Bill, NIA Chairman Gives Rare Insight Into Behind The Scene Workings Before President Accent

Insurers Consider Welcome Pack For Dispensers of Fake Third-Party Motor Insurance Certificates to End The Plague

February 27, 2026
Transparent Claims Handling, Consumer Complaints, & Market Conduct Supervision Get NAICOM Top Priority This Year

Transparent Claims Handling, Consumer Complaints, & Market Conduct Supervision Get NAICOM Top Priority This Year

February 26, 2026
AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

February 25, 2026
Sovereign Trust Insurance Plc Spreads Love With Safety Drive

Sovereign Trust Insurance Plc Spreads Love With Safety Drive

February 25, 2026
12 Month Recapitalisation, Risk Based Capital Race  on NIIRA 2025 Commences With Clear Avoidable, More Expectations

NAICOM Downplays Quick Fix For Compulsory Insurances, Upticks NIIRA Social Security Creation

February 24, 2026
Petroleum Retail Distribution, Maritime Risks at The Burner of Organized Private Sector of Nigeria (OPSN) Engagement With NAICOM

Petroleum Retail Distribution, Maritime Risks at The Burner of Organized Private Sector of Nigeria (OPSN) Engagement With NAICOM

February 23, 2026
NAICOM, BPP Strengthen Inter-agency Partnership And Regulatory Standards

NAICOM, BPP Strengthen Inter-agency Partnership And Regulatory Standards

February 21, 2026
NAICOM, BPP Strengthen Inter-agency Partnership And Regulatory Standards

National Insurance Commission, Ministry of Agriculture Pledge to Strengthen Agricultural Insurance and Boost Food Security

February 21, 2026
LASPOTECH Bright And Talented Insurance Professionals Take NIIRA Deeper, Create Significant Potentials For Operators

NIIRA Avalanche Opens Stakeholders Perspective And Balancing of Interests

February 21, 2026
ADVERTISEMENT

Recent News

Inter-Agency Efficiency, Accelerated Service Delivery Revolve As NAICOM and PEBEC Meet to Improve Government Service Delivery

Inter-Agency Efficiency, Accelerated Service Delivery Revolve As NAICOM and PEBEC Meet to Improve Government Service Delivery

February 27, 2026
Insurance Bill, NIA Chairman Gives Rare Insight Into Behind The Scene Workings Before President Accent

Insurers Consider Welcome Pack For Dispensers of Fake Third-Party Motor Insurance Certificates to End The Plague

February 27, 2026
Transparent Claims Handling, Consumer Complaints, & Market Conduct Supervision Get NAICOM Top Priority This Year

Transparent Claims Handling, Consumer Complaints, & Market Conduct Supervision Get NAICOM Top Priority This Year

February 26, 2026
AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

AIICO 2026 Agency Retreat Honours Outstanding Sales Champions

February 25, 2026
Sovereign Trust Insurance Plc Spreads Love With Safety Drive

Sovereign Trust Insurance Plc Spreads Love With Safety Drive

February 25, 2026
12 Month Recapitalisation, Risk Based Capital Race  on NIIRA 2025 Commences With Clear Avoidable, More Expectations

NAICOM Downplays Quick Fix For Compulsory Insurances, Upticks NIIRA Social Security Creation

February 24, 2026
Petroleum Retail Distribution, Maritime Risks at The Burner of Organized Private Sector of Nigeria (OPSN) Engagement With NAICOM

Petroleum Retail Distribution, Maritime Risks at The Burner of Organized Private Sector of Nigeria (OPSN) Engagement With NAICOM

February 23, 2026
NAICOM, BPP Strengthen Inter-agency Partnership And Regulatory Standards

NAICOM, BPP Strengthen Inter-agency Partnership And Regulatory Standards

February 21, 2026
NAICOM, BPP Strengthen Inter-agency Partnership And Regulatory Standards

National Insurance Commission, Ministry of Agriculture Pledge to Strengthen Agricultural Insurance and Boost Food Security

February 21, 2026
LASPOTECH Bright And Talented Insurance Professionals Take NIIRA Deeper, Create Significant Potentials For Operators

NIIRA Avalanche Opens Stakeholders Perspective And Balancing of Interests

February 21, 2026
Egypt’s MISR Insurance Delegation Explores Opportunities For Entry Into Nigeria’ Market

Egypt’s MISR Insurance Delegation Explores Opportunities For Entry Into Nigeria’ Market

February 19, 2026
AIICO Takes Valentine’s Message to The Streets Where Love Variants Speaks

AIICO Takes Valentine’s Message to The Streets Where Love Variants Speaks

February 16, 2026
It’s a New Upward Trajectory For Loss Adjusters, NIA, ILAN Agree to New Scale of Fees

Loss Adjusters Position For Upgrading Dimension For Bigger Risks as Insurers Set For Bigger Capacity

February 17, 2026
NAICOM Refills Supervisory, Regulatory Capacities, Projects More Strength, Oversight This Year

NAICOM Refills Supervisory, Regulatory Capacities, Projects More Strength, Oversight This Year

February 17, 2026
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

Inter-Agency Efficiency, Accelerated Service Delivery Revolve As NAICOM and PEBEC Meet to Improve Government Service Delivery

Inter-Agency Efficiency, Accelerated Service Delivery Revolve As NAICOM and PEBEC Meet to Improve Government Service Delivery

February 27, 2026
Insurance Bill, NIA Chairman Gives Rare Insight Into Behind The Scene Workings Before President Accent

Insurers Consider Welcome Pack For Dispensers of Fake Third-Party Motor Insurance Certificates to End The Plague

February 27, 2026
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In