Researchers at AI Now Institute, a New York University (NYU)-based research organization, advised the Federal Trade Commission (FTC) on technology matters, as reported by YahooNews.
The researchers said that the boom of AI means now is the perfect time to do something about it. Based on their report detailed the impact of Big Tech on AI development, in which it founds that AI development has been "foundational reliant" on resources controlled by Big Tech, such as data and computing power.
The researchers also reported that Big Tech had been positioned as an important part of the US-China race. Much of the narrative around AI development was formed by Big Tech. Now, they believe that this narrative is beneficial for large companies and influences a lot of policymakers to think about technology.
A Meaningful Reform in the Tech Industry
The researchers call for a better concentration of power. This is considering that tech titans are competing with startups and small players. The difference is that the tech giants have access to resources and data not available to outsiders.
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The Competition in the AI Market
Researchers want to find a way to encourage competition and lessen reliance on Big Tech. They believe that we shouldn't let companies be the leaders in this conversation, and it's for the regulator and the public to define the future of AI.
They presented some policy suggestions that will discourage further entrenchment of Big Tech. One is data minimization, which means companies will only be allowed to gather necessary data and nothing else. They also suggested better enforcement of antitrust laws.
Furthermore, the researchers proposed the creation of a regulatory body that will oversee AI development and deployment.
This entity will ensure that AI is used for the common good, not just for the profit of a few companies. They also suggested that the government should invest in AI research and development to create a more level playing field for startups and small players.
The researchers believe that AI has the potential to change the world, but a few companies should not control it. By encouraging competition and creating a regulatory body, we can ensure that AI is used for the greater good, not just a few's profits.
In recent years, the dominance of Big Tech has become increasingly apparent in various industries. This is especially true for AI development and deployment, where a few companies hold significant power and influence over how this technology is used.
While there are benefits to having these large companies drive innovation in AI, it also poses risks, such as potential bias or lack of diversity in data sets used for training algorithms. Additionally, their control over the market can stifle competition from smaller players who may have innovative ideas but lack the resources to compete.
A collaborative effort between governments, businesses, researchers/academia, and civil societies towards creating ethical standards & guidelines around ai usage would foster transparency, leading us toward safer implementation.
It should be noted: The future success story regarding Artificial Intelligence relies heavily on balancing economic interests alongside societal demands -this requires participation from regulators and every stakeholder involved!
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