AI should be regulated on an industry-by-industry basis, developers say
By Zion Rufus
As recent events spark fresh debates about the potential risks of artificial intelligence, which has prompted the call for a six-month pause on the development of advanced AI models, some founders have urged an industry-by-industry regulation to better ensure its safe and ethical use.
According to their analysis, by implementing industry-specific regulations, Governments can ensure that AI is developed and deployed in a responsible and ethical manner that benefits society as a whole, and allow users to harness its benefits while minimizing the risks and negative impacts.
It should be recalled that an open letter signed by Tesla CEO Elon Musk, Apple co-founder Steve Wozniak, and other tech leaders across the globe had called for the pause, citing “profound risks to society and humanity.”
Weighing in on the regulation of AI, Parry Malm, CEO at Phrasee, an AI-powered content platform for marketing, stated that there is a growing need for AI to be regulated on an industry-by-industry basis.
“This is because there are degrees of consequences we’re dealing with here,” Malm said.
“If AI generates a bit of content that just isn’t very good, and nobody clicks on it, it’s not that big of a deal. But if you’re giving medical advice and it hallucinates a fact, or gets it wrong, that’s high stakes.”
The letter, which stated that 2023 has seen AI labs locked in an out-of-control race to develop and deploy ever more powerful digital minds that no one – not even their creators – can understand, predict, or reliably control, has received over 50,000 signatures across the globe and nearly 3000 verified signatures.
On his part, Shubham A Mishra, co-founder & global CEO of Pixis, a global tech company that develops accessible AI technology, believes that the call for a pause on AI innovations can only be possible if founders mutually agree to pause the race and concentrate the same energy and efforts on building guidelines and protocols for the safe development of larger AI models.
“We cannot stop, and must not stop the progress. But what we can do is plan for this progress,” Mishra said, adding that the call is not for a general ban on AI development but a temporary pause on building larger, unpredictable models that compete with human intelligence.
Continuing he said: “The mind-boggling rates at which new powerful AI innovations and models are being developed definitely calls for the tech leaders and others to come together to build safety measures and protocols. It is a reasonable ask considering generative AI does have the power to confuse masses by enabling the pumping of propaganda or ‘difficult to distinguish’ information into public domain.”
From healthcare to finance, and beyond, different industries have different use cases for AI, and each presents its own unique risks and challenges. As a result, regulating AI on a blanket basis would be insufficient to address the specific concerns and needs of each industry.
However, in the event that the call for a pause cannot be enacted quickly, governments have been advised to step in and institute a moratorium.
AI developers have also been urged to work with policymakers to dramatically accelerate development of robust AI governance systems.
According to the letter, these should at a minimum include: new and capable regulatory authorities dedicated to AI; oversight and tracking of highly capable AI systems and large pools of computational capability; provenance and watermarking systems to help distinguish real from synthetic and to track model leaks; a robust auditing and certification ecosystem; liability for AI-caused harm; robust public funding for technical AI safety research; and well-resourced institutions for coping with the dramatic economic and political disruptions (especially to democracy) that AI will cause.
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