The artificial intelligence (AI) craze continues to take root all over the world. Just open up any search engine and type in ‘artificial intelligence.’ You’ll see thousands of articles, blogs, and conversations revolving around AI, and one of the major debates taking root among nations across the globe is how to strike a balance between AI usage and regulation.
Truth is that artificial intelligence has been a phenomenal tool in creating a range of content. Be it marketing, business operations, law and regulations, or even language translation, the benefits of AI are tenfold. However, just as there are many benefits and innovations springing up from the use of artificial intelligence, so are the downsides.
Artificial Intelligence in Action
As we’ve already implied, artificial intelligence is everywhere. Nowadays, as soon as you start using your mobile device or the internet, AI algorithms are working in the background to provide you with personalized information. What’s more, companies worldwide are in the race to dominate the AI market. In fact, about 40% of global companies use AI in one way or another, with a big percentage of them already using it in their daily business operations.
More specifically, in the US, businesses have become pioneering forces in the field of AI. Thanks to their heavy investment in AI research and development, these businesses are setting trends that are shaping the global AI landscape. A good example of this is in the entertainment sector.
Whether in online gambling or streaming platforms, AI has helped personalize the entire experience. For instance, step into the best US real money online casinos and watch how AI helps in customizing game recommendations and bonuses, all while analyzing player behavior for a more engaging and satisfying experience. Plus, we cannot turn a blind eye to the lengths to which AI is helping these operators monitor suspicious activities and deter fraud.
On the other hand, on a national level, government agencies have also leveraged AI’s efficiency and power to provide better public services in several cases. From the transport sector to healthcare to agriculture to energy, AI has proved effective in improving service delivery and optimizing operations.
Challenges and Considerations in AI
Now, at face value, it may sound that AI has hit a home run in automating and transforming global industries and enhancing individual daily lives. But all this efficiency has also come with its own share of pitfalls, one of them being the lack of AI’s transparency.
As you may already know, AI algorithms are ever-evolving and dynamic. In fact, some say that AI works in black boxes, meaning their decision-making process is totally invisible to humans. That’s especially true in deep learning models, whose processes are highly complex, even for those who work directly to develop such technology. As a result, the lack of transparency brews questions as to what type of data AI algorithms use and the systems on which they base their decisions.
Another pressing issue arising from the increased use of AI is its rate of automation vis-à-vis job loss. Experts predict that AI will automate about 300 million full-time roles by 2030. That translates to approximately a quarter of the combined US and UK workforce. Although that may mean an increase in the value of goods and services by at least 7%, it also implies a risk of increased unemployment rates.
Other noteworthy challenges facing AI include its ability to be socially manipulated, its impact on data security and privacy, its inherent biases, and its potential to instigate criminal activities. All these and many more concerns have led people and international organizations to call for the development of an international treaty on the use and development of AI.
Where the Problem Comes In
As you can see, the use and development of AI is wide and varied. However, the complexity of its development and use cases has proved too challenging for traditional regulatory mechanisms. For instance, an AI law may be enacted, but later recognize that there’s a need for more tools and resources to execute that regulation.
Yet, that doesn’t mean nations haven’t made an effort to regulate AI. For instance, the European Union (EU) has a comprehensive AI act that prescribes the safe use of AI in the EU while respecting fundamental rights and creating an environment for AI investment and governance.
Likewise, the United Nations General Assembly has adopted a non-binding global AI resolution. The resolution pushes member states to make legislation that not only protects human rights but also guarantees data protection and monitors AI for risks. However, due to different national interests, varied regulatory approaches, issues dealing with enforcement, and ethical/cultural differences, there is plenty that is hindering an international approach to AI use and regulation.
Looking Ahead
As AI development and demand continue to grow, so does the need for regulation. Although it may seem impossible right now, there is a dire need to harness a global effort to regulate AI. That way, in addition to its positive use cases, we can tackle potential risks and ethical issues, ensure fairness, and protect privacy. Effective regulation can stop misuse, encourage responsible innovation, and set up a framework for working together that matches global standards and values.
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