Advanced AI Must Build Trust Through Transparency and Accountability
Last year, some of America’s most innovative companies released impressive new Artificial Intelligence (AI) technology into the world. While AI is still in its infancy, the technology presents extraordinary potential to transform consumers’ lives and revolutionize the way we do business. Already, companies have integrated AI into their products and services, scientists are using the technology to guide new research, and the general public are using AI-powered products in their daily lives. However, while we work to unlock the potential of AI, it’s critical for lawmakers and companies to mitigate the potential risks of this new technology without stifling innovation.
As AI becomes more sophisticated, it’s essential for companies to prioritize responsible development practices. Crucially, companies must develop public trust by building transparent AI systems. Without proper measures promoting transparency, public trust in AI will erode, and it will become challenging for companies to identify and address errors in new AI products and services.
Similarly, companies must take accountability for the technology they release to the public. Of course, AI is a fast-moving technology, and there will be errors and missteps as new AI-powered products and services are unveiled. When those problems occur, it’s essential for these innovators to address them head-on. This means taking proactive measures before these AI tools are released to the public and having a strategy in place to address potential issues that come to light once a product is made public.
As companies continue to create advanced new AI products and services, it is key for the lawmakers considering regulations surrounding AI to balance responsibility and accountability, while empowering innovation and competition. Inevitably, in the development of such new and transformative technology, mistakes can happen. Taking risks is a vital part of our national competitiveness and should be protected. That said, part of what builders and responsible policymakers alike must consider is how these missteps should be handled — appropriately and at speed. Certainly, there is room for policymakers to set up guardrails designed to promote transparency. However, overly restrictive regulations could stifle innovation, stalling the development and adoption of transformational AI technologies and block hungry, ambitious entrepreneurs.
As AI continues to advance, the need for responsible development has never been greater. Companies must prioritize transparency and accountability and work to proactively mitigate risks. By the same token, lawmakers must strike the right balance between regulation and innovation. By doing so, we can harness the extraordinary potential of AI, while safeguarding against potential risks and challenges.
