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  • Writer's pictureShreyan Shrimali

Regulating AI: The Beginning Phase

Updated: Jan 28

Recently, some of the most significant tech leaders, including Mark Zuckerberg, Elon Musk & Bill Gates, had a meeting with the US government regarding Artificial intelligence regulation. This meeting is very significant as these companies hold the largest active consumers in the world, and if they change how they do business, then the market will change significantly. AI is a very powerful tool; hence, these companies are getting ready.

But why is this AI regulation meeting essential? It could be because recently, we saw many technological advancements in AI and how it came to many businesses with ChatGPT. It is being said that AI now has a vast amount of data and, if not appropriately regulated, can be very destructive.

Now, people think that it is early for regulatory bodies to enter the AI industry, but this all was started more than a decade ago by The National AI Research And Development Strategic Plan, followed by many countries. In the meeting, at one point, there was the question of whether the government should interfere in the regulation of AI, and everyone raised their hands, which shows the importance of government interference.

Now the question arises: will it help the market or not? There will be many people who will support this and may not. Having regulation can promote confidence, transparency, and responsibility among generative AI users, developers, and other stakeholders, which will boost the market. This will also help to cut down on scams and crimes that may be perpetrated through AI technology.

In conclusion, the discussion on AI regulation between tech titans and the US government can be a turning point. Government engagement is needed, given AI's expanding power and potential hazards.

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