Digital Finance Developments offers insights into timely topics in digital finance. This edition examines new efforts to coordinate AI policy across jurisdictions and the creation of new venues for this work, as policymaker focus shifts toward international cooperation. This piece explores how:
- Governments and international organizations have recognized the urgency of streamlining their approaches to AI safety, reflected in recent joint communiques, prompting tangible efforts at international collaboration.
- AI safety institutes (AISIs) are becoming a crucial mechanism for harmonizing safety standards and building consensus around the definition of safe AI; a newly established network of institutes will be crucial to watch.
- Alignment of international AI safety standards could ease the operational burden for firms navigating multiple jurisdictions, but transitioning to unified frameworks may introduce new complexities as firms grapple with new regulations.