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Global Al policymakers may need a hubris check

Mint Mumbai

|

November 06, 2023

Orders and declarations on artificial intelligence have come thick and fast lately, with the UK's Bletchley Park back in the arc-lights, but AI is far too complex for snappy regulation

Global Al policymakers may need a hubris check

Governments appear keener on claiming the right to become the alpha custodians of artificial intelligence (AI) governance than on striking a balance by putting guard-rails around AI without stifling innovation. While their upping the ante to rein in tech companies that are building and releasing AI and generative AI (GenAI) models at a frenetic pace is credible, since it pressures them to develop responsible Al models, using terms like "world leader in AI safety" also smacks of one-upmanship in AI-related geopolitics. Consider these press announcements. On 30 October, the US government said President Joe Biden is issuing a "landmark Executive Order to ensure that America leads the way in seizing the promise and managing the risks of AI." On 1 November, the UK government followed by announcing at its just-concluded AI Summit at Bletchley Park that "leading AI nations" have reached a "worldfirst agreement" on "the opportunities and risks posed by frontier AI" (jargon for big foundational models like GPT-4). A day later, the UK a

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The Reserve Bank of India's (RBI) draft framework for bank-led acquisition finance marks a decisive policy turn: Indian banks can now enter the acquisition finance market within a clear perimeter, reshaping the competitive dynamics between banks and private credit funds.

time to read

3 mins

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Afghanistan trade minister seeks India investments, goods

Afghanistan's Taliban trade minister arrived in India on Wednesday on a maiden visit to draw greater investments and goods as both countries consider ways to enhance their relations in the backdrop of souring relations with neighboring Pakistan.

time to read

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Fractal Analytics bets heavily on R&D in AI race before IPO

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time to read

2 mins

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