This study analyzes the impact of different approaches to AI data privacy on innovation in AI-driven applications to determine if AI regulation ultimately enhances or inhibits growth in a capitalist economy. The authors then propose a regulatory framework to guide policy makers in responsible regulation.
Key Takeaways
- Carefully calibrated AI data privacy regulations, balancing innovation incentives with public interest, can foster sustainable growth by building trust and ensuring responsible data use.
- Overly strict or rigid regulations may risk stifling innovation and entrenching existing dominant companies.
- The paper proposes a principle-based AI regulatory framework that promotes ethical and innovative growth, emphasizing adaptability, actionability, and scalability across various domains.
- Historical precedents from the regulation of technologies such as the Industrial Revolution and the internet, offer valuable lessons for AI governance, suggesting that balanced and adaptive approaches are most effective.
- International cooperation and the harmonization of AI principles and regulations are essential for navigating the global challenges of AI and fostering trust and innovation across borders.
Ultimately, the research advocates for a forward-looking, collaborative approach to AI governance that can adapt to the rapid evolution of the technology, ensuring its benefits are realized in a safe, equitable, and globally consistent manner.
Read more at https://joshuaberkowitz.us/blog/research-reviews-2/balancing-innovation-and-ethics-in-responsible-ai-regulation-38
Research from Vikram Kulothungan , Priya Ranjani Mohan and Deepti Gupta, Ph.D.
at Capitol Technology University , Rutgers University , Texas A&M University
Balancing AI Innovation and Ethics with Regulation