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When humans discovered fire roughly 1.5 million years ago, they knew they had something good right away. But they quickly discovered the downsides: getting too close and getting burned, accidentally starting a wildfire, smoke inhalation, or even burning down the village. These were not minor risks, but there was no going back. Fortunately, we managed to harness the power of fire for good.
Fast forwarding to today, artificial intelligence (AI) could prove to be as transformational as fire. Like fire, the risks are huge — some would say existential. But, like it or not, there is no going back or even slowing down, given the state of global geopolitics.
In this article, we explore how we can manage the risks of AI and the different paths we can take. AI is not just another technological innovation, it is a disruptive force that will change the world in ways we cannot even begin to imagine. However, we need to be mindful of the risks associated with this technology and manage them appropriately.
Setting standards for the use of AI
The first step in managing the risks associated with AI is setting standards for its use. Governments or industry groups can set these standards, and they can be either mandatory or voluntary. While voluntary standards are nice, the reality is that the companies that are the most responsible tend to follow rules and guidance, while others pay no heed. For the benefit of society, everyone needs to follow the guidance. Therefore, we recommend that the standards be required, even if the initial standard is lower (that is, easier to meet).
Event
Transform 2023
Join us in San Francisco on July 11-12, where top executives will share how they have integrated and optimized AI investments for success and avoided common pitfalls.
