People from all over the world are embracing artificial intelligence (AI) and hence, becoming an integral part of modern society. It has started impacting every industry, whether healthcare or finance.
However, this technology has grown at such a rapid pace that it has raised eyebrows regarding data privacy. Hence, the governments of various countries have initiated looking at the existing regulatory frameworks.
Undoubtedly, AI systems operate on vast datasets. This raw data often consists of highly sensitive personal information.
Furthermore, the collection, storage, and processing of this data has several risks attached to it, particularly to personal information.
Paola Zeni, Chief Privacy Officer at RingCentral, emphasizes the urgency of proactive measures: "With rapid innovation across artificial intelligence, organizations must remain relentlessly focused on protecting customers and their data. We should not wait for regulations to guide us; we must take charge of the associated security and privacy risks AI brings."
A 2022 survey by the Pew Research Center revealed that 37% of Americans are more concerned than excited about the increasing presence of AI in daily life, with 8% specifically associating their concern with "people misusing AI.
With AI rising at a higher speed, the worldwide governments have started implementing various rules and regulations to safeguard their citizens' privacy.
As a matter of fact, General Data Protection Regulation (GDPR) was implemented by the European Union in 2018. This law protects the personal information of European people.
A study examining patent applications from 57 countries between 2010 and 2021 found that following the GDPR's enactment, patent applicants with greater exposure to EU markets increased data-saving patents while reducing data-intensive ones, with EU-based firms driving this shift.
Despite the GDPR's intent to protect individual privacy, it has inadvertently impacted AI development within the EU.
The same study indicates that the regulation appears to have lowered overall AI patenting in the EU while consolidating the market dominance of established firms.
The tech industry presents a spectrum of views on AI regulation. Rob Sherman, Meta's Deputy Privacy Officer and Vice-President of Policy, expressed concerns on the rules and regulations implemented by the various countries that will hamper the growth of AI.
He stated that "The EU's stringent regulatory stance on AI might impede the continent's access to leading-edge AI technologies. He noted that such moves could lead to a "gap in the technologies that are available in Europe versus" the rest of the world."
Conversely, Dharmesh Shah, co-founder and Chief Technology Officer of HubSpot, acknowledges the necessity of regulation but cautions against halting AI advancements: "Some regulation needs to exist... The part I disagree with is the groups that are saying we need to slow this down, we need to control it or lock it down for a year. I don't think that's practical."
As AI technologies become more pervasive, the role of Chief Privacy Officers (CPOs) is expanding. As per the official survey by the International Association of Privacy Professionals, over 80% of privacy teams now manage additional areas such as AI and data governance.
There is a thin line between having a balance between favouring AI innovation and remaining stringent about data privacy.
As a matter of fact, over-regulation will hamper development, and under-regulation will compromise individual rights.
Peter Kirchschläger, a professor of ethics, warns against the influence of Big Tech in shaping AI policies: "Big Tech firms have consistently shown little concern about harming people and violating their rights."
He advocates that there should be interference of independent experts and prominent organizations in policy making so that everything remains on track ethically.
AI will surely evolve with time. However, it becomes immensely relevant to protect the rights of each individual. Therefore, regulatory frameworks and AI development should go hand-in-hand.
The government should not impose any stringent laws that stop the new technology from evolving and technological companies should be transparent with the individual data.
Additionally, there should be time to time interference by the industry leaders, policymakers and government organizations to see if everything is under control.