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- 1 Artificial intelligence has emerged as the most revolutionary technology so far
- 2 However, the technology has been accused of taking jobs from many industries.
- 3 The industry leaders are mulling over the impact of AI and about regulating it.
Artificial Intelligence is not just a new technology, it’s a revolution. Judging by the rate it’s changing the world, it surely seems like it. AI has drastically brought ease to various jobs. It hasn’t only facilitated the research but has also perfected its results. It has already developed a profound understanding of the human mind and is getting at it too. Various industries are already feeling the heat of it.
Leaders of many are concerned about the dire consequences of AI as it outsmarts humans and takes their jobs too. At least, it has the potential to do so. So, the industry leaders are pulling up their socks for it. Enter artificial intelligence regulations, a bunch of rules that’ll harness this technology.
Global Efforts Towards AI Regulations
Google Cloud Next was held recently. It is a summit that brings so many technocrats and tech enthusiasts together. It seems that the nations are taking the AI marathon seriously. The United Nations has also taken a cautious stance towards generative AI. It has already started to control the regulate the technology.
However, the body realizes that it can’t stifle the technological advancements too. At the same time, it needs to ensure that AI doesn’t guzzle people’s jobs. Then, there are companies who want to use technology to make big differences. They are taking the technology into different domains.
In the midst of this, some industry kingpins have expressed their views about this technology. Christoph Rabenseifner, Deutsche Bank’s Chief Strategy Officer said that AI has disparate effects in different industries. According to him, it affects the crypto space very distinctively. He also stated that AI will influence every aspect of almost every business. He emphasized not thinking of a single niche that won’t be affected by it.
This is why, the regulators worry about maintaining some order in the spread of AI. He also thinks that it incapacitates them to take preventive actions towards the technology. To make the transition easier, companies and governments have to work together, said Rabenseifner. He said that people have to be familiar with the technology. Also, he stressed on making the technology more transparent.
SAP CTO Juergen Mueller pointed to platforms that can detect AI-generated images. Programs like SynthID and Google’s Vertex can tell if the image is created by generative AI or not. Furthermore, Google announced that it’s working on a new watermark technology as well. However, Mueller said that AI-based applications aren’t totally foolproof. They can malfunction and cause some problems for the users.
Thus, he emphasizes on making the AI more robust. Therefore, the laws and regulations come into the picture. With the implementation, the applications using this tech become more reliable. With some oversight, they get perfect, precise, and downright feasible.
Conclusion
The impact of AI is clearly noticeable in every industry. From advancements to strikes, this technology has shown users everything. As it is moving ahead, the technocrats are now thinking about the regulations. With a well-maintained, AI can grow without affecting people’s lives. Summits like Google Cloud Next can certainly help with this.
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.
