Regulation Of AI Will Be Key To Its Success

The promise of artificial intelligence (AI) is finally being implemented in a wide range of industries. It is emerging in every industry, with organizations using the technology to gain insight into customers, markets and competitors and automate processes in almost every facet of business. Regulation could be crucial to create a level playing field.

Against this background, artificial intelligence (AI) technology in particular has the potential to help organisations across the country adapt, improve security and improve our way of life and work. By broadening our vision of what AI can do, by more proactively selecting and evaluating new companies and technologies, and by addressing AI risks, current and future AI users can position themselves to survive and thrive in this emerging era of ubiquitous AI. 

Regulation could be crucial to create a level playing field for start-ups and large companies developing in artificial intelligence, while ensuring legal certainty. A self-regulatory system has the potential to be one of the most effective tools for the development and deployment of artificial intelligence. 

Although the impact of AI is uncertain, companies must figure out how best to continue to develop it, and leaders must invest in training AI for all, spend at least as much on adopting technology, organize their work, and communicate the benefits, risks, and risks.

Rather than thinking of AI as an overarching technology that should be directly regulated, policymakers should recognize that it is an instrument, and that the place of regulation should be the application of that tool, not the instrument. While the development and deployment of artificial intelligence in healthcare is relatively rapid, its success requires the full participation of all stakeholders. 

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