Regulatory alternatives for AI

Artificial Intelligence (AI) is enjoying another of its periodic surges in popularity. To the extent that the current promises are fulfilled, AI may deliver considerable benefits. Whether or not it does so, however, AI harbours substantial threats. The first article in this series examined those threats. The second article presented a set of Principles and a business process whereby organisations can approach AI in a responsible manner. Given how impactful AI is expected to be, and the very low likelihood that all organisations will act responsibly, it is essential that an appropriate regulatory regime be applied to AI. This article reviews key regulatory concepts, and considers each of the various forms that regulatory schemes can take. Given the technical and political complexities and the intensity of the threats, co-regulation is proposed as the most appropriate approach. This involves the establishment of a legislated framework with several key features. The parliament needs to declare the requirements, the enforcement processes and sanctions, and allocate the powers and responsibilities to appropriate regulatory agencies. In addition, it delegates the development and maintenance of the detailed obligations to an independent body, comprising representatives of all stakeholder groups, including the various categories of the affected public.