We agree with Asheesh Mehra of The Next Web that regulating the application of AI, not the technology itself, will keep the use of AI fair and ethical while still fostering innovation with AI. What is your opinion on this approach? Learn more:
The World Economic Forum recently confirmed its intention to develop global rules for AI and create an AI Council that will aim to find common ground on policy between nations on the potential of AI and other emerging technologies.
The trouble is that regulations designed to breathe life into the AI dream could in fact do the opposite, if not approached with care and due diligence. Regulatory compliance is important across the spectrum of business, from retail to banking, but it is also incredibly complicated, especially with new technologies being implemented into business models on an almost daily basis.
Due to constantly requiring updates and revisions, regulatory bodies’ ability to enforce such rules is becoming more challenging. A similar scenario can be said for AI. With the hype around AI reaching full throttle, measures are being taken to make its use fair and ethical.
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