AI Regulation: Balancing Innovation and Control

 The digital revolution has transformed the complete working and performance of the industries enhancing the business across several dimensions. All the aspects of communication, customer services, business development, finance management, workforce management, business planning followed by research and development; have been optimized and enhanced with the application of the technologies. The developments in the software applications systematized the business operations through synchronized software tools. The further advancements led to the new revolution of Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things(IoT).

The AI systems have helped in executing the repetitive tasks with accuracy, speed and reliability. The basic communication in customer service department is now taken care by the AI chatbots that have built-in system that answers the users questions and engages the customers on a professional level. The involvement of AI is now in every field of communications, banking, education, entertainment, healthcare, business and more.

As AI technology became popular and commonly adopted, it changed the course of human involvement in certain functions. It started assisting the users with all sorts of solutions like answering the questions to performing specific functions. Soon there came situations reflecting the wrong use of AI in acts of cheating, cyberthefts, frauds, etc. There came an urgent need for AI regulation.

Government organizations along with several leading technology organizations have decided to formulate AI policy that can standardize and regulate the AI usage. The objective of having a sound AI policy is to bring all the AI activities under unified AI control that will support in building and maintaining the ethics, safeguard interests of the users and create a world of cooperation and support.

The AI regulations have been classified in three categories of accountability and responsibility of AI systems, governance of artificial intelligence systems and managing privacy with safety concerns.

The need to ensure long-term beneficial AI is known as the AI control problem. Other social responses, like doing nothing or outlawing AI, are viewed as impractical, while approaches like augmenting human capabilities through transhumanism techniques like brain-computer interfaces are seen as potentially complementary. Regulation of AI can be seen as a positive social means to manage this problem. Regulation of AGI research centers on the function of review boards at all levels, from corporate to university, and on promoting research into AI safety along with the potential for differentiated intellectual progress (giving protective over risky strategies in AI development) or conducting global mass surveillance to carry out AGI arms control.

The ‘AGI Nanny’ is a proposed human-controlled strategy that aims to deter the development of a dangerous superintelligence and tackle other significant threats to human welfare, like the disruption of the global financial system, until a safe and true superintelligence can be created. To monitor and safeguard humanity from harm, it involves building an artificial general intelligence (AGI) system that is more intelligent than humans but not superintelligent. This system is then connected to a vast surveillance network.

Regulation of ethically aware, conscious AGIs focuses on integrating them into human civilization; this can be broken down into two categories: legal issues and moral rights.

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