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- 1 In a meeting, the U.N. Officials proposed creating a body to regulate A.I. globally.
- 2 During the meeting, industry experts discussed the pros and cons of the technology.
On July 18, 2023, the U.N. Security Council held a session to analyze A.I. threats and asked for a global agency to regulate the technology. The U.N. Security Council examined the impact of artificial intelligence on international peace and stability. Its Secretary-General Antonio Guterres called for a global watchdog that can police the novel technology and analyze related threats.
U.N. Calls For Global Body to Regulate A.I.
Regarding the potential of artificial technology, the Secretary-General argues that bad actors could exploit its power to cause “death and destruction, widespread trauma, and serious psychological damage on an unimaginable scale.”
Artificial intelligence tools have taken the world by storm. They can accept text prompts and create images, videos, illustrations, etc. This capability can easily be exploited to cause destruction. For instance, a world leader can be shown murdering a prominent personality, or he can be heard talking about defeating rivals using nuclear weapons. Such events could significantly disrupt geopolitical stability..
On July 18, leading experts from the field of artificial intelligence, along with diplomats, came together and explained the underlying risks of the technology to the Security Council. They also pointed out the potential of the technology in achieving scientific and social benefits. However, the nascent technology’s full potential is yet to be properly understood.
The co-founder of Anthropic, Jack Clark, said, “It’s as though we are building engines without understanding the science of combustion.” He also suggested that the whole technology should not be solely in the hands of private players.
The Proposed Artificial Intelligence Watchdog
Guterres argued that the proposed U.N. watchdog should act as a governing body and that it should have the power to regulate and police artificial intelligence. It would work similarly to other bodies, such as the International Civil Aviation Organization (ICAO) which oversees aviation, the International Atomic Energy Agency (IAEE) which watches over nuclear energy, and the United Nations Framework Convention on Climate Change (UNFCCC) which oversees climate change.
The proposed agency will comprise field experts who shall share their expertise with administrative and government agencies to analyze and address the threats of artificial intelligence.
The E.U. Asked U.S. to Join Forces to Regulate Artificial Intelligence
The European Union’s Chief Justice Didier Reynders, during his bi-annual meeting on July 17, 2023, urged the United States to collaborate for technology regulation. He hinted at the inaction of American authorities toward the regulation of both crypto and artificial intelligence. He called for the nation to collaborate and work together to create a comprehensive regulatory framework surrounding the technology.
In April 2021, the European Union proposed the E.U. A.I. Act, aimed towards technology regulations. Although the act is yet to be discussed in detail and will take another few years to be implemented, the companies operating in the field are already worried. Moreover, the E.U.’s Market in Crypto Asset (MiCA), the country’s pioneer comprehensive regulatory framework for the crypto industry, shall be fully effective from December 30, 2024.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
