Regulating AI Tech is No Longer an Option: It’s a Must!

Regulating AI Tech is No Longer an Option: It’s a Must!

Author: Niel Harper

Summarized by Ali Kingston Mwila

✅ There are a plethora of social, political and economic costs that can manifest if AI development progresses along its present trajectory without strong regulation.

✅ These harmful possibilities have been widely discussed in academic and technical communities for years now, but it is important to broaden this discourse to promote better awareness and understanding before it becomes impossible to reverse the damage, specifically due to AI’s promising and wide-reaching potential.

❇ The Risks and Dangers of AI

✅ The Italian data protection authority banned the use of the advanced chatbot ChatGPT.

✅ Several industry leaders, including Elon Musk, called for work on these types of AI systems to be suspended, expressing fears that current development was out of control.

✅ Questions and discussions around who is developing AI, for what purposes, and what risks and dangers are involved are critical to protecting society against the harms of “bad AI” and to engender digital trust. Some of the key issues are as follows:

❌ There is no legal basis for the large-scale processing of personal data in AI platforms.

❌ ✅ AI systems are being increasingly leveraged in propaganda and fake news.

❌ ✅ Bad actors are weaponizing AI systems in more sophisticated cyberattacks (e.g., advanced malware, stealthier ransomware, more effective phishing techniques, deep fakes, etc.)

❌ ✅ No independent privacy and security audits of AI systems are available to corporate or individual users.

❌ ✅ The use of autonomous weapons systems powered by AI has become a reality.

❌ ✅ AI systems are prone to bias and discrimination (garbage in; garbage out), putting minority communities at further risk.

❌ The challenges with regards to intellectual property abuse/misuse are extremely high.

❌ Legislation and regulation are always behind technology advancement (law lag). Currently, there are no rules or general recourse to protect against negative outcomes of AI—especially around liability.

❌ There are threats to democracy in terms of amplifying the “echo chambers” and social manipulation already prevalent in many social platforms.

❌ AI systems can be used in foreign or corporate espionage.

❌ Algorithmic (AI-based) trading can result in future financial crises.

There is potential for widespread loss of jobs due to AI automation.

❇ Driving Toward Responsible and Ethical Use of AI

✅ Several countries have been focusing on AI regulation, and the United States and the European Union have seemingly aligned on what measures are most critical to control the unmitigated proliferation of artificial intelligence.

✅ Companies should develop policies and standards for monitoring algorithms and enhancing data governance and be transparent with the results of AI algorithms.

✅ Corporate leadership should establish and define company values and AI guidelines, creating frameworks for determining acceptable uses of AI technologies.

✅ Achieving the delicate balance between innovation and human-centered design is the optimal approach for developing responsible technology and guaranteeing that AI delivers on its promise for this and future generations.