International Business Machines Corp’s IBM CEO Arvind Krishna shared his thoughts on regulating artificial intelligence and President Joe Biden’s latest executive order.
What Happened: In an interview with CNBC, the IBM CEO addressed the complexities of AI regulation and IBM’s position on the matter, saying that despite its comprehensive approach, no regulatory framework could perfectly encapsulate the intricacies of a fast-evolving technology like AI.
“Look, to me… all regulation is going to be imperfect, by its very nature,” he said, adding, “There’s no way that, even in this case a 100-page document, can capture the subtleties of such a massive, emerging, impactful, nascent technology.”
However, he voiced support for the executive order mandating AI firms to disclose safety testing results to the U.S. government before launching AI systems, reiterating his conviction about holding corporations accountable for their AI models and even proposing legal liability for the actions of these models.
“We believe that having safeguards is better than having no guardrails,” the IBM CEO stated.
Notwithstanding his support for accountability, Krishna expressed concerns over the risk of proprietary information becoming public.
“I do believe that there should be competition – we should be allowed to have our own copyrighted ways of doing things, and those don’t need to be made public.”
Addressing the ongoing debate on whether regulation could stifle innovation, Krishna advocated for a system that encourages open innovation and regulates based on risk rather than the technology itself.
Meanwhile, amidst these regulatory discussions, IBM has rebranded the Watson line as part of its broader plan to monetize its AI offerings for businesses in a market dominated by tech behemoths like Microsoft Corp, Alphabet Inc.’s Google, and Amazon Inc.
Why It Matters: The AI industry has been booming, with major players like Meta Platforms launching innovative AI applications this week. However, not everyone is happy with the increasing AI regulations.
After President Biden issued the executive order, Elon Musk, who has been vocal about regulating AI, expressed dismay.
The tech billionaire appeared to be unhappy about the executive order, talking about “woke” philosophies such as “addressing algorithmic discrimination” and advancing equity.
Photo Courtesy: Shutterstock.com
Check out more of Benzinga’s Consumer Tech coverage by following this link.
Read Next: Gary Gensler Warns Companies About Artificial Intelligence Boasting: Don’t ‘AI Wash’
This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
