Peru has announced its intention to join the list of countries pursuing comprehensive policies.
Artificial Intelligence (AI) framework after the bill was submitted to the National Assembly.
A bill submitted to the Peruvian Congress is the country’s first attempt to control the operations of AI developers amid growing adoption. Considering the presence of foreign AI chatbots in the country, lawmaker Carlos Javier Zeballos Madariaga has introduced a bill in the House of Representatives pushing for strict AI rules.
Millions of Peruvians have eagerly welcomed generative AI chatbots to boost productivity, but regulators are concerned that disorderly use of the technology could lead to a number of long-term problems for the country.
The bill aims to curb the spread of misinformation through deepfakes, regulate the use of AI in financial markets, and protect consumers from harmful AI products. While the provisions of the bill have Peruvian characteristics, the forthcoming framework is inspired by the European Union’s AI framework.
The preamble to Peru’s AI bill reads, “This bill seeks to ensure essential rights, privacy and security of citizens and to promote transparency, ethics, innovation and progress in the field of artificial intelligence.”
A closer look at the bill reveals an intention to maintain data sovereignty and hold global AI developers accountable to local data privacy rules. The bill specifically stipulates that AI companies must comply with Peruvian law regardless of the location of the company’s servers.
The new framework, alao, creates strict rules for auditing and requires AI developers to report regularly to regulatory watchdogs. Service providers must secure explicit consent from users before using their data to train large-scale language models (LLMs).
More than just an operational playbook, the bill sets out penalties for default, including hefty fines, prison terms for key members of erring AI companies, and other drastic sanctions.
Leaning on the EU’s regulatory blueprint
The EU’s AI law has emerged as a dominant force in global AI regulation, with pioneering provisions and a “risk-based approach”. Following the region’s success in regulating digital asset service providers through the Markets in Cryptocurrencies (MiCA) regulation, the EU is working to replicate the same success with AI.
But critics have argued that the EU’s playbook could stifle innovation and trigger large flows of talent and capital to less restrictive jurisdictions. In its defense, the EU says the rules are a healthy balance of innovation and consumer protection, designed to set the pace for a unified regulatory framework for AI.
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