This paper provides a brief commentary on the Council of Europe Framework Convention on Artificial Intelligence and Human Rights, Democracy and the Rule of Law, and considers its possible impact on the AI regulation in the third states. It analyses the general characteristics of the Convention: its legal nature, object and purpose, along with specific issues relating to the procedure for the use of remedies, the process of accession, and the mechanisms of implementation of the Convention at the national level. The commentary concludes by highlighting the provisions and approaches of the Convention that could be useful in shaping national AI regulation, as well as common regulatory framework on the BRICS platform. Such provisions include, inter alia, standards of transparency, reliability, risk assessment, accountability and responsibility for negative consequences, as well as remedies for the individuals whose rights have been violated by the use of AI systems.