CIPL Recommendations on Adopting a Risk-Based Approach to Regulating AI in the EU

Building on its prior work, CIPL has been working with experts in the EU and multinational companies who are leaders in AI to collect best practices and emerging trends in AI accountability. CIPL’s objective is to inform the current EU discussions on the development of rules to regulate AI. This paper summarizes CIPL’s vision on how to implement a risk-based approach to AI regulation and compliance. It is based on the premise that AI regulation must remain agile, just like the technology uses that it seeks to regulate. Hence, it should not aim for a one-size-fits-all approach or elimination of all risks. It must allow for the evaluation of contextual risks and benefits, mitigation of risks, honest error and constant improvement.

In this paper, CIPL recommends a risk-based approach to regulating AI applications comprised of:

1. A regulatory framework focusing only on AI applications that are “high risk”;
2. A risk-based organizational accountability framework that calibrates AI requirements and compliance to the specific risks at hand;
3. Smart and risk-based oversight.

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