Can a businessman draft business regulations?

Jun 28, 2023

Can a businessman draft business regulations?

AI has become a buzzword after some experts have dwelt on the disastrous potential of capability-based super AI. Surely, the development process can go far beyond machine functionalities with the availability of ultra-powerful memory processors. Derelicts can always misuse potential discoveries and doctrines. Every country is afraid of it and has embarked on framing regulations. Soon there can be international treaties besides local regulatory framework. The treaties may be like the ‘Treaty on the Non-proliferation of Nuclear Weapons 1968’. Nuclear powers with many pieces in the arsenal and employing super-nuclear brains wanted others with fewer capabilities to sign the treaty.

Now around two dozen technology firms, which are part of or funded by already established technology giants, are working on various types of AI. Many of whom already have monopolies in their business. Chief Executives of these AI companies are travelling around the world and persuading the government of the potential markets to regulate AI, which could be a new phantom. With Mark Zuckerberg of META and Sam Altman of OpenAI – the two front runners in AI development – offering their support for government oversight of AI, what one can easily find is a contradiction.

A business owner telling the government to regulate his business with his support is no less than assigning a criminal to draft a new criminal procedure code.

(An extract from my forthcoming book on AI)