AI will have a significant effect on nearly every aspect of business and society.
Artificial intelligence (AI) will have a significant effect on nearly every aspect of business and society in the not so distant future. The implications of this technology are yet to be fully understood by industry leaders and academics alike, both are struggling to achieve a consensus on its potential economic impact.
What is artificial intelligence?
A parliamentary report released Monday 16th April from the House of Lords Select Committee has announced that ethics should be at the center of the development of Artificial Intelligence. With Britain poised to become a world leader in this technology international safeguards need to be set into place, the study said.
The Chairman of the Committee, Lord Clement-Jones, said:
“The UK contains leading AI companies, a dynamic academic research culture, and a vigorous start-up ecosystem as well as a host of legal, ethical, financial and linguistic strengths. We should make the most of this environment, but it is essential that ethics take center stage in AI’s development and use.”
The report is the UK’s first public inquiry into the development and use of AI which states that the law governing its effects “is not currently clear”. It proposes a national and international “AI code” based on five principles to ensure the country becomes “a world leader” in the industry’s application of machine learning. The principles are focused on fairness, education, and avoidance of wrongdoing.
The chairman of the committee also states:
“AI is not without its risks and the adoption of the principles proposed by the Committee will help to mitigate these. An ethical approach ensures the public trusts this technology and sees the benefits of using it. It will also prepare them to challenge its misuse.”
The rise of this report which highlights and identifies the possible risks and potential issues surrounding AI may give the public more confidence that action will be taken beforehand to ensure the problems do not occur. The committee says the adoption of its recommendations would mean the UK is “ready, willing and able to take advantage of AI.”
Read the full report here AI in the UK: ready, willing and able?