Featured in this episode of Chaos Lever
This time it’s around the looming AI apocalypse, or at least crisis. Despite what tech bro’s like Marc Andreessen claim, the coming infusion of AI into all aspects of our life will not be a shining city on a hill or a techno-utopia.
All regulation is not necessarily bad regulation, and there are legitimate concerns around how AI is implemented across all walks of life. The parliament of the EU is currently debating legislation that would put the onus on companies creating AI-powered software to take a risk-based approach with potential fines of 40M euros or 7% of total worldwide turnover.
What is a risk-based approach? The EU will categorize certain applications as high risk in terms of health and safety. Applications that fall under the high risk category will have to comply with mandatory requirements before they can be offered in the EU market. Non high-risk applications will still need to assess their data sets for bias and content.
This is very different than the outcome-based approach the UK and US are taking. One that predictably gives the application writers more latitude and less oversight. So, um, par for the course really. Seems like that’s worked out great for crypto and DeFi, and I’m sure AI will be more of the same.