The Liberal Democratic Party of Japan is set to present new legislation to regulate generative AI technologies in 2024, according to Nikkei Business Daily.

This move by the ruling party is in response to growing concerns about disinformation and rights infringements associated with AI. The party's AI project team plans to draft preliminary rules, which may include penal regulations, for foundation model developers like Microsoft-backed OpenAI GPTs.

Why does it matter?

This initiative follows the European Union's recent progress towards adopting the AI Act, and it coincides with other governments, including the USA and China, exploring ways to regulate the technology.

The push for AI legislation is part of a broader effort by Japan to address the challenges and opportunities presented by emerging technologies. Japan has also proposed guidelines for companies using AI, highlighting transparency efforts such as training data disclosure, and is pursuing an increase in AI-related spending in its fiscal 2024 budget.

The Japanese government is also crafting new rules to mandate social media platforms respond quickly to user claims of online smearing.

This legislative campaign comes at a time when Japan faces an economic downturn. The country recently entered a recession and lost its status as the world's third-largest economy to Germany, due in part to a severe drop in the value of the yen versus the dollar. Tokyo may consider AI regulation as a way to foster innovation and economic growth while addressing social and ethical concerns about the technology.