BRICS meeting in Rio de Janeiro calls for controls on the use of data in artificial intelligence and further delays a cross-border payments system promised since 2015.
The meeting demonstrated a determination to protect data from unauthorized use by AI and promote trade independent of the US dollar, despite internal technical and policy disagreements.
MAIN CONTENT
BRICS demands data protection and fair compensation from tech companies using AI data.
The cross-border payments system has yet to be implemented after more than a decade of negotiations due to disagreements and infrastructure limitations.
China expands yuan while US threatens steep tariffs to discourage non-dollar trade.
What did BRICS do to control AI data at the Rio de Janeiro summit?
BRICS have agreed on the need to adopt data protection measures to prevent the unauthorized use of data in the development of artificial intelligence. The delegation released a draft document calling for ensuring fair compensation for technology companies when exploiting data without permission.
This comes amid reports that AI models developed by US and European companies are still mining global data without proper oversight and compensation, Reuters reports.
“We must establish a legal framework for data protection to ensure fair rights for all parties and avoid taking advantage of national intellectual resources in the AI era.”
Mr. Wang Li, AI Technology Expert, BRICS 2025 Conference
Why is the BRICS cross-border payments system still not implemented after 10 years?
Direct answer: Due to differences in central banking infrastructure and disputes over costs and governance, BRICS has yet to launch a unified payments system, despite the goal being set in 2015.
The conference in Brazil highlighted that finance ministers and central bank governors are still discussing without being able to agree on a specific deadline or plan.
According to Ms. Tatiana Rosito, an official of the Brazilian Ministry of Finance, the structure to avoid using the US dollar in transactions is still in the technical survey stage and needs more time to realize.
“The ultimate goal is to achieve direct exchange rates between local currencies such as real-renminbi or real-rupee without going through the USD.”
Tatiana Rosito, Brazilian Ministry of Finance, July 2025
Not to mention the sanctions against Russia and Iran, along with related legal difficulties, further complicate the process of developing common infrastructure.
How is China boosting the role of the yuan?
The People's Bank of China, under Pan Gongsheng, is expanding the international financial and settlement markets for the renminbi. China has also introduced renminbi futures contracts and opened the CIPS settlement system to more foreign banks.
China sees the yuan's rise as an international competitive strategy aimed at gradually reducing its dependence on the US dollar in global trade.
The move comes as the US administration, with its hardline stance, threatens to impose 100% tariffs on any BRICS country that tries to trade without the US dollar, putting new pressure on internal BRICS negotiations.
BRICS characteristics in general China US AI and data policy Demand for data protection and fair compensation Promote investment in development and expansion of financial markets Mainly exploit global AI data, little control Cross-border payment system Not implemented, still debated and not technically standard Developing CIPS system, RMB futures contract Putting pressure to prevent with tariffs and policies Role of currency Want to reduce dependence on USD in trade transactions Expand the scope of global RMB use Maintain USD's position as the main reserve currency
What initiatives has BRICS taken to support developing countries?
BRICS introduced the Multilateral Guarantees Initiative (BMG) to improve access to credit for members and countries in the Global South through the New Development Bank (NDB).
The initiative is designed not to require new capital but to address the debt crisis and financial distress caused by high interest rates in developed economies affecting emerging market countries.
Frequently Asked Questions
What do BRICS want to do with AI data? BRICS calls for control of illegal AI data mining and demands fair compensation for data sources according to international standards. Why is the BRICS cross-border payment system slow to be implemented? The main reasons are differences in banking infrastructure, cost disputes, governance and the impact of international sanctions. What does China's move to expand the yuan mean? This is a strategy to increase global financial influence, competing directly with the USD in international trade. Does BRICS have a plan to completely replace the USD? BRICS aims to gradually reduce its dependence on the USD but is still in the process of debate, with no specific implementation plan. What does the BMG initiative support for members? BMG contributes to improving access to credit in the context of financial difficulties and high interest rates, especially for developing economies.
Source: https://tintucbitcoin.com/brics-day-manh-quy-dinh-du-lieu-ai/
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