Does artificial intelligence need to be regulated?

Artificial intelligence (AI) has been taking the world by storm in recent years. One innovation seems to be followed by another, it’s hard to know what will come next in the world of AI. Many experts and industry leaders are warning of dark times ahead should the technology be allowed to develop beyond human control.

The AI space is filled with controversy and heated debates surrounding its future. In this article, we’ll discuss what everyone is so worried about and if regulation is the answer.

AI and the global economy

Primary concerns about AI are the implications it may have on global economies. There are fears it may further widen economic gaps between developed and developing countries, exacerbating social inequality that already divides this planet.

Jobs are likely to be affected with many professions made redundant with the advancement of AI capabilities. This could have wide-reaching impacts on society as a whole, completely shifting our way of living in some cases. Even situations such as accidents at work or while driving could get more legally challenging to resolve and may require companies to take a bigger share of responsibility.

However, AI is likely to be a double-edged sword. While it may fundamentally change or exacerbate the world as we know it, it does open the door for incredible progression. Optimised production efficiencies, streamlined business processes and improved innovation could overwhelmingly boost economic growth around the world. But who is to benefit?

AI and military applications

There are also concerns about the use of AI in military settings. Transferring decision-making abilities or military autonomy to AI is a risky strategy as warned by many experts. It increases the risk of conflict escalation which has been held in the balance by humans for so long.

Advanced weaponry using AI technology also has the potential to do more harm than good, particularly in the wrong hands. New types of error that haven’t even been accounted for yet may threaten the very existence of our planet.

Should AI be regulated?

The ultimate question is: should AI be regulated? It’s a complex debate with many stakeholders and factors to be considered.

Many argue that it should be regulated to ensure that the technology has a net positive impact on society rather than a negative one. However, it’s difficult to overcome the complexities and rapid development of the topic to effectively regulate it.

Who should be responsible for regulation? Who has the insight to regulate such a technology? Who even knows what needs regulating or will in the future? These are all questions that need to be answered by world governments, companies and think tanks.