A Path Towards an Internet of Things and Artificial Intelligence Regulatory Framework

As technology is the driver of the economy, it is necessary to follow emerging technological trends and to create appropriate conditions for its adoption and implementation as a human-centred technology. In this regard, rules and standards for the Internet of Things (IoT) and Artificial Intelligence (AI) should be established to best use the benefits of technology and to prevent or minimize the consequences of technology misuse. The fifth industrial revolution (Industry 5.0) has already begun, although Industry 4.0 is still developing. Consequently, the original attention has shifted from IoT to AI, with the IoT debate now being a prerequisite for the AI debate. As AI is transforming our lives, a growing number of countries have considered or already adopted national AI strategies. However, in many developing countries, national AI strategies and initiatives for establishing AI and IoT regulation and legislation frameworks yet need to be discussed. The subject of this article is the research of existing initiatives related to establishing the IoT and AI regulatory and legislative framework in the EU and its applicability in developing countries.