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Why The Public And Private Sectors Must Jointly Define Responsible AI

Dec 23, 2024 - forbes.com
The article discusses the implications of California's AI regulation SB 1047, which was vetoed by Governor Gavin Newsom in September 2024. The bill aimed to introduce safety testing, threat controls, and third-party audits for large-scale AI models, but faced resistance due to its focus on model size and cost. Newsom suggested a risk-based framework focusing on AI model function and sensitivity. Despite opposition from major AI companies, there is global support for strong AI regulation, with a survey showing 82.4% of business leaders backing AI governance strategies. This highlights a demand for regulatory clarity to mitigate legal and reputational risks associated with unregulated AI development.

The article emphasizes the importance of data transparency, robust AI governance, and tamper-proofing mechanisms for effective AI regulation. It highlights the need for explainability in AI decision-making to build trust and safeguard brand reputation. Despite 95% of executives recognizing explainability as crucial, only 5% have implemented comprehensive AI governance frameworks. The article suggests blockchain as a solution for tamper-proof AI governance, enabling secure, auditable records and compliance automation. This approach can transform AI from a compliance risk into a driver of sustainable growth and innovation, offering a competitive advantage in the evolving landscape of AI regulation.

Key takeaways:

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  • California's proposed AI regulation, SB 1047, aimed to introduce safety testing and third-party audits for large-scale AI models but was vetoed by Governor Gavin Newsom, sparking global discussions on AI regulation.
  • A survey conducted by Zogby Analytics found that 82.4% of CEOs, CIOs, and CTOs support an executive order mandating AI governance strategies, highlighting a strong demand for regulatory clarity in the private sector.
  • Data transparency and explainability are crucial for building trust and ensuring responsible AI adoption, yet only 5% of organizations have implemented comprehensive AI governance frameworks.
  • Blockchain technology offers a promising solution for tamper-proof AI governance by providing secure, immutable records, which can help organizations prove compliance and turn AI into a driver of sustainable growth.
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