Group of Seven advanced nations should adopt "risk-based" regulation on artificial intelligence, their digital ministers agreed recently, as European lawmakers hurry to introduce an AI Act to enforce rules on emerging tools such as ChatGPT.
About:
The G-7 or ‘Group of Seven’ are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States.
The G-7 nations meet at annual summits that are presided over by leaders of member countries on a rotational basis. The summit is an informal gathering that lasts two days, in which leaders of member countries discuss a wide range of global issues.
The G-7 does not have a formal constitution or a fixed headquarters.
The decisions taken by leaders during annual summits are non-binding.
Timeline:
It is an intergovernmental organisation that was formed in 1975 by the top economies of the time as an informal forum to discuss pressing world issues.
Canada joined the group in 1976, and the European Union began attending in 1977.
The G-7 was known as the ‘G-8’ for several years after the original seven were joined by Russia in 1997. The Group returned to being called G-7 after Russia was expelled as a member in 2014 following the latter’s annexation of the Crimea region of Ukraine.
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