𝐓𝐡𝐞 𝐂𝐥𝐚𝐬𝐡 𝐨𝐟 𝐓𝐢𝐭𝐚𝐧𝐬: 𝐑𝐞𝐠𝐮𝐥𝐚𝐭𝐨𝐫𝐬 𝐕𝐒 "𝐇𝐲𝐩𝐞𝐫𝐬"

The EU recently created new rules for artificial intelligence (AI).

These are the first AI laws in the world. The EU laws say high-risk AI needs human oversight and must use quality data to work right. It has really great things to build on. It cares about people’s safety and rights with AI. The rules are matched to how much risk the AI poses. And people stay in charge of the technology.

Speaking about risks, as AI and ML are subjected to continuous development (even if many people will not appreciate the definition), AI and ML are a continuous Minimum Viable Product. Thus, regulations are needed to prevent the proliferation of further risks in the future.

But the EU’s laws won’t work the same everywhere as they are not one-size-fits-all. Instead, the EU rules are a starting point and an overarching regulation.

Regulations could be an overarching structure which establishes critical rules for the AI impacts and related risk mitigations. Countries can take the good ideas and build their own laws.

Further discussions across industries can refine them within these boundaries with clear sub-regulations when appropriate.

Here’s a key point - Industries can’t just make up their own AI rules. Some think companies should self-regulate: I’m afraid I have to disagree.

Self-regulation by companies has significant problems:

· Conflicts of interest. Companies want their AI to do more, even if it is unsafe.

· No accountability. Firms might hide bad uses that hurt people without oversight.

· A race to the bottom. One company lowers standards, others follow to compete, and everyone’s AI gets shoddy.

· The public gets harmed. High-risk AI needs strong laws, or people could really get hurt.

· Loopholes. Patchwork rules leave gaps that jeopardise folks’ safety.

· No fixes. With only corporate rules, people have no way to get justice.

Companies can innovate using AI safely with thoughtful regulation.

Governments must create AI laws tailored to each industry and further cross-reference with other countries. Ultimately, we are in a global interconnected world, aren’t we? Diverse, coordinated AI laws help innovation flourish while keeping humanity’s best interests at the centre.