Ukraine Unveils Blueprint for AI and Cryptocurrency Industry Regulation in Accordance with EU AI Act.

Ukraine Unveils Blueprint for AI and Cryptocurrency Industry Regulation in Accordance with EU AI Act.

Ukraine has unveiled a comprehensive roadmap closely aligned with the European Union’s groundbreaking EU AI Act of 2023. The Ukrainian Ministry of Digital Transformation announced this strategic plan on October 7, marking a crucial milestone in the country’s commitment to fostering innovation while safeguarding against potential risks associated with AI and cryptocurrency.

The EU AI Act, introduced earlier this year, established a pioneering framework for regulating AI within the European Union, emphasizing unified standards for AI development, marketing, and usage. Ukraine’s “roadmap” mirrors these aspirations and intends to guide local businesses and individuals in navigating the evolving landscape of AI technologies.

The Ukrainian roadmap outlines a gradual approach, allowing businesses a 2-3 year trial period to adapt to potential regulations before any formal laws are enacted. Deputy Minister of Digital Transformation, Oleksandr Borniakov, emphasizes the importance of fostering company self-regulation by encouraging the adoption of voluntary ethical standards and providing educational resources like a White Paper.

One of the key initiatives is the creation of a collaborative platform where businesses can exchange best practices, address regulatory challenges, and stay informed about ethical AI use. The Ministry also plans to conduct training courses and workshops, ensuring that companies are well-prepared for forthcoming AI regulations.

While the Ukrainian AI legislation is expected to be developed in 2024, it will closely follow the EU AI Act, ensuring alignment with Europe’s pioneering approach to AI regulation.