New Delhi, Oct. 22 -- Major new regulations on Artificial Intelligence (AI) in the United States are unlikely to emerge despite the technology becoming a central issue in the country's midterm elections, according to a report by UBS.

The report said a light-touch approach to AI regulation is likely to continue, partly because of the expectations that AI will provide a long-term boost to the US economy through higher economic growth and productivity.

"AI has become one of the central issues of the mid-term elections but is unlikely to sway the ultimate outcome, which should result in the Democrats retaking the House and possibly the Senate," the report stated.

UBS said the midterm elections are unlikely to result in significant new AI r...