In a striking statement at the Global Technology Summit, Meta’s Vice President of Privacy Policy, Evelyn Miller, warned against rigid AI regulations, arguing that such measures could hinder innovation and investment in India.
What Happened? Miller, addressing concerns about AI regulation in India, emphasized the unknown potential of AI and cautioned that premature regulation could stifle technological advancements. She highlighted the European Union’s regulatory struggles, where the industry grappled with unforeseen liabilities, leading to a stagnation in innovation.
Miller underscored the importance of investment in innovation, noting that stringent regulations could dampen the desire to invest in new technologies.
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Multi-pronged approach: She also advocated for international collaboration, as seen in G7 and OECD discussions, to address national security and sovereignty concerns while ensuring regulations don’t hinder a country's ability to innovate, especially in ways that can benefit its most impoverished citizens.
Similarly, Flipkart’s Senior Vice President and Chief Data Scientist, Mayur Datar, during another summit session, advised companies to utilize available AI application interfaces for market acceleration. However, he cautioned against fixating on a single approach and stressed the importance of building custom models and securing necessary resources for exploring AI technologies.
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