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Artificial Intelligence (AI) and the regulation thereof is a topic that is increasingly being discussed and various proposals have been made in literature for defining regulatory bodies and/or related regulation. In this paper, we present a pragmatic approach for providing a technology assurance regulatory framework. To the best of our knowledge, this work presents the first national AI technology assurance legal and regulatory framework that has been implemented by a national authority empowered through law to do so. Aiming to both provide assurances where required and not stifling innovation yet supporting it, it is proposed that such regulation is not to be mandated for all AI-based systems but rather should provide a voluntary framework and only be mandated in sectors and activities as deemed necessary by other authorities or laws for regulated and critical areas.
Ellul et al. (Mon,) studied this question.