Technology is gradually reshaping the world, adding hues of efficiency and scope to daily world activities. Artificial Intelligence, in particular, is redefining perspectives, opening new doors of possibility and potential. It cannot be denied that the prowess of artificial intelligence has been adding convenience and efficiency to our activities and commendable achievements in various fields, whether it be health, business, or education. However, every coin has two sides. Likewise, artificial intelligence, encompasses immense benefits, while also carrying with it a good number of disadvantages. Sometimes artificial intelligence can cause very adverse impacts, with lasting effects.
A good example of this is the racial biases found in data that often lead to discriminatory results, in addition to privacy and security concerns. These are often the major roadblocks that stop artificial intelligence from gaining the complete trust of the consumers. Owing to the increasing importance of artificial intelligence in the business field, it becomes all the more important to address these issues. The new European regulations underscore these points and stress the importance of trustworthiness when it comes to artificial intelligence.
These new regulations put forth by the European Union will have a great impact on the businesses that develop artificial intelligence. This means that the companies have to ensure that their processes are transparent and clear, with no space for doubt or error. Consent from the customers will be necessary particularly in the context of software that uses facial recognition and the likes. The customers must be fully aware of the functions, and the related what, how, when, and why. Zero opacity in operations is the primary aim of these regulations.
These regulations are also an indication of the human-centric perspective of the Europeans.
According to Anu Bradford, a professor at Columbia Law School,
“Europeans have a very human-centric approach to technology in contrast to the Chinese digital authoritarian model, or the more techno libertarian views that prevail traditionally in the United States. So there’s much more of a faith that markets are not enough to provide solutions and that the government does need to step in, in the name of protecting those fundamental rights.”
Although these regulations can prove to be a bridle for the businesses, looking from a glass half full perspective, it can be said that in the long run, these regulations will go a long way in gaining the trust of the customers, thereby positively impacting the businesses dealing with artificial intelligence.