Argentina submits bill to create a legal framework for AI use

In short: Argentina’s government says it has sent a bill to Congress to set a legal framework for using AI, including a new type of company run by AI systems.

What happened

Argentina’s president, Javier Milei, wrote in the Financial Times that his government submitted legislation to Congress to create a dedicated legal framework for the deployment of artificial intelligence.

Milei says the proposal is built on three parts. First, he argues AI should be kept “unregulated” so it can be developed without what he calls premature rules. Second, it would create a new corporate category called a “non-human corporation”, which would cover entities operated by AI agents or robots. An AI agent is software that can take actions on its own, like a digital worker that follows goals instead of step by step instructions.

Third, Milei says Argentina would offer a “competitive fiscal environment” for these entities, including a low corporate tax rate and flexibility on which corporate governance law applies. He also says final beneficiaries would need to be disclosed, meaning the real people who ultimately benefit must be identified, to avoid attracting illegal money.

Why it matters

This proposal points to a big question governments are starting to face, which is who is responsible when software makes decisions that cause harm or financial loss. Creating a “non-human corporation” is like giving an autonomous system a legal wrapper similar to a normal company, including limited liability (a rule that can cap how much owners can lose). If Argentina moves ahead, it could affect where AI-focused businesses choose to set up shop, and how much legal protection everyday investors and customers have if something goes wrong.

Source: Financial Times