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.
- 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.
- 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.
Q1) What is the European Union?
The European Union is a unique partnership between 27 European countries, known as Member States, or EU countries. The EU is home to around 447 million people, which is around 6 % of the world's population. Citizens of the EU countries are also EU citizens.