Artificial Intelligence Regulatory Models: Advances in the European Union and Recommendations for the United States and Evolving Global Markets

Abstract

In 2023, 28 countries and technology private sector representatives signed the Bletchley Declaration, calling for international oversight of AI by applying a risk-based formulary. The goal is to achieve uniform global regulation. The absence of regulatory uniformity challenges companies operating across borders. This paper provides practitioners and policymakers with an overview of the EU regulatory model and a new legislative recommendation, The AI Integrative Risk-Based model for the U.S., which has not designed any regulatory framework. The AIRB provides a useful approach for conducting meaningful risk assessments to guide future U.S. regulation and ensure compliance in global markets.