The National AI Initiative Act is in force, the NIST AI Risk Management Framework , Local Law 144 (the AI Law) is in force, the California Privacy Rights Act (CPRA) is in force. • Blueprint for an AI Bill of Rights was published in October 2022 (not legally binding). • The Algorithmic Accountability Act 2022 requires companies to assess the impacts of AI but the nation’s AI framework is so far voluntary.
« Financial Instruments & Exchange Act – Amended to require registration of organizations using AI in their daily trading operations; » There are no legislative and regulatory provisions that govern AI in
Japan. In order to promote and facilitate the free flow of data and the
utilisation of AI-related services, contracts and agreements among the
parties are very important. To summarize, Japan has developed and
revised AI-related regulations with the goal of maximizing AI’s positive
impact on society, rather than suppressing it out of overestimated risks.
The emphasis is on a risk-based, agile, and multistakeholder process,
rather than a one-size-fits-all obligation or prohibition. Japan’s approach
provides important insights into global trends on AI regulation.
