Italy looks at tougher penalties for crimes involving AI
Draft bill draft aims at use of AI tools for market rigging and money laundering
09 April 2024 - 16:21
byElvira Pollina and Angelo Amante
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Milan/Rome — Italy’s government is mulling tougher penalties for crimes using artificial intelligence (AI) tools including market rigging and money laundering, according to a draft law bill seen by Reuters on Tuesday.
The 25-article draft bill lays down general principles “on research, experimentation, development, adoption and application” of AI in Italy, to cope with “the impact on fundamental rights” and related economic and social risks.
The document, whose content is still subject to change, envisages use of such tools in the health sector and in the judiciary, focusing on its effect on job conditions. It also sets the ground for a national AI strategy.
The draft beefs up penalties for market rigging through AI tools and stipulates that the use of AI for money laundering represents an aggravating element.
It also sets out fines for copyright violations through AI and a jail term of up to three years for those who employ such tools to replace other people, potentially targeting harmful deepfakes.
Italian Prime Minister Giorgia Meloni participates in a scientific meeting in Rome, Italy April 5 2024. Picture: REUTERS/Remo Casilli
Italy now holds the rotating chair of the Group of Seven (G7) major democracies. Prime Minister Giorgia Meloni has said AI would be among the key issues of the 2024 presidency which would culminate in a leaders’ summit in the middle of June.
AI has also become a crucial issue in the EU. The bloc is moving closer to adopting the world’s first rules on such tools, which will have to comply with specific transparency obligations and EU copyright laws.
In March, Meloni said she was planning to set up an investment fund to promote AI projects with an initial endowment of €1bn ($1.1bn). The fund could raise a further €2bn from the private sector.
Italy’s cabinet was expected to give an initial green light to the bill by the end of April, two government sources said.
The proposal will then be pushed through parliament for any further revisions and final approval before becoming effective.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Italy looks at tougher penalties for crimes involving AI
Draft bill draft aims at use of AI tools for market rigging and money laundering
Milan/Rome — Italy’s government is mulling tougher penalties for crimes using artificial intelligence (AI) tools including market rigging and money laundering, according to a draft law bill seen by Reuters on Tuesday.
The 25-article draft bill lays down general principles “on research, experimentation, development, adoption and application” of AI in Italy, to cope with “the impact on fundamental rights” and related economic and social risks.
The document, whose content is still subject to change, envisages use of such tools in the health sector and in the judiciary, focusing on its effect on job conditions. It also sets the ground for a national AI strategy.
The draft beefs up penalties for market rigging through AI tools and stipulates that the use of AI for money laundering represents an aggravating element.
It also sets out fines for copyright violations through AI and a jail term of up to three years for those who employ such tools to replace other people, potentially targeting harmful deepfakes.
Italy now holds the rotating chair of the Group of Seven (G7) major democracies. Prime Minister Giorgia Meloni has said AI would be among the key issues of the 2024 presidency which would culminate in a leaders’ summit in the middle of June.
AI has also become a crucial issue in the EU. The bloc is moving closer to adopting the world’s first rules on such tools, which will have to comply with specific transparency obligations and EU copyright laws.
In March, Meloni said she was planning to set up an investment fund to promote AI projects with an initial endowment of €1bn ($1.1bn). The fund could raise a further €2bn from the private sector.
Italy’s cabinet was expected to give an initial green light to the bill by the end of April, two government sources said.
The proposal will then be pushed through parliament for any further revisions and final approval before becoming effective.
Reuters
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