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In a world where artificial intelligence (AI) is quickly changing the ways every industry does business, it is understandable why governments across the world are trying to regulate the development and use of this powerful new technology. But one matter that has been consistently overlooked is the involvement of CEOs in the process.
Not to say that CEOs have no place at decision-making tables, but it’s important to note that CEO’s involvement in AI regulation can cause issues. CEOs by their own nature are often more focused on profits than long-term consequences. While they may have great ideas on how to better use AI for their particular business, their contributions to the regulation of the industry as a whole can be very one-sided and not focused on improving long-term sustainability.
More broadly, CEO involvement can also lead to dysfunctional discussions where CEO’s demand certain regulations or features. Microsoft CEO Satya Nadella recently said at a summit in India that the government should set clear regulations on how AI can be used. This begs the question – why should a CEO be dictating how regulators should handle an industry?
It’s also important to remember that CEO’s don’t have the same perspective as the public at large. The general public is often not as informed about technology as they might like to be, but the general population is directly affected by the use of AI in any given scenario. The public’s perspective should be taken into account with any proposed regulatory measures, but the opinions of CEOs must be properly weighed and considered before any real decisions are made.
Overall, CEOs should not be involved in AI regulation beyond offering general advice. Regulators must work with experts in the field to create regulations based on facts, not CEO agendas. Ultimately, it’s up to the public to decide how digital technology will be used in their lives and the only way to ensure this is to confer the decision-making power to ones who directly represent their interests.