These new developments will undoubtedly cause some turmoil in the industry, regardless of whether they coalesce into a full-fledged upheaval. In response, governments are rushing to establish new regulations to curb unchecked profiteering by weighing benefits against risks. For instance, the AI Act, a proposed legislation for the EU, aims to taxonomize systems based on their riskiness, measured with social scoring, biometric ID and mass surveillance.
As an investor, it's crucial to follow these international regulatory changes closely, as the rapid pace could lead to significant risks. The variations in philosophical outlook and political frameworks could make it a long, complicated journey for firms operating internationally, hindering their attempts to integrate machine learning models efficiently.
In 2024, it is still creating so many waves that are rocking the boat for investors looking to ride the AI wave. It's easy to see the potential for AI to create massive disruption, but it can also create massive disasters if you don't know how to sail the stormy seas.
These rules on transparency and accountability will therefore have a direct impact on the adoption of the systems, which in turn will affect the profitability of companies using them.
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