In the past week, top executives from foremost AI companies met a bipartisan group of US lawmakers, hinting at Washington’s increased focus on AI technology. Concerns over AI’s implications have reached the U.S. Securities and Exchange Commission’s chair, another vivid signal AI is under the governmental limelight. Reflecting upon this development, John Rizzo, Senior Vice President for Public Affairs at Clyde Group, suggests the AI sector should anticipate forthcoming scrutiny, much like the public eye turned to cryptocurrencies.
Though AI and blockchain, the technology behind crypto, may seem to share little beyond their tech orientation, Rizzo draws parallels between them. AI, similar to crypto, offers a cutting-edge technology with broad applications. Despite this, both face skepticism. While Bitcoin proponents and detractors argue over private currencies’ necessity, AI needs to convince skeptics its intentions are sound and benevolent.
The AI industry, grappling with a Congress distrustful of its motives, can learn lessons from cryptocurrencies affiliated challenges. Media disinformation and sensationalising content are likely to plague AI’s reputation, as it did cryptocurrencies before. AI will be held accountable for mistakes, regardless of machine learning being statistically superior to human-managed processes.
However, AI’s efforts in Washington face a unique challenge and opportunity. While cryptographic technology attempted to integrate into the highly regulated financial sector, AI targets multiple sectors, presenting a larger, but less rigid challenge. For instance, Gary Gensler, SEC Chair, recently questioned AI’s systemic risk in finance. The fear revolves around machine-oriented financial transactions during a crisis, as their collective effect may lead to an economic risk.
In this scenario, the AI industry should utilise its considerable capital and the lack of solid policy positions in both political parties to sway public opinion and create a more welcome environment for its technologies – something Rizzo believes the crypto industry didn’t do well. By spearheading a public affairs campaign that lays out the potential positive societal impacts of AI, the AI industry could encourage acceptance and avoid a crypto-like regulatory stalemate.
Lessons from this comparator blueprint are apparent. Achieving regulatory acceptance isn’t confined to closed-door meetings in national capitals. Instead, it begins by convincing the people, who in turn influence lawmakers. This public relations challenge faced by emerging technologies is twofold: shaping the narrative for the uninitiated general public, and warding off politicization that could lead to a deadlock. As execs within the AI realm mull over their encounter with Washington’s political machinery, they are left to decide between replicating the crypto industry’s road or paving their own.
Source: Coindesk
