At the 2021 G20 finance ministers and Central Bank Governors meeting, India’s finance minister Nirmala Sitharaman highlighted the need for worldwide crypto guidelines. She argued that there is a greater acceptance among the G20 nations that global regulations should be put in place for any new digital assets. Furthermore, Sitharaman cautioned against digital assets not backed by national banks, claiming such assets could lead to destabilized economies and crash.
In response to this, the European Data Protection Board has created a new initiative – the ChatGPT working committee. This committee is designed to shape and develop a set of industry standard AI privacy regulations that can be adopted across Europe. This action is in response to recent unilateral restrictions on ChatGPT by Italy and speculation of the same regulations being introduced by Germany. In addition, Spain’s AEPD has announced it will investigate ChatGPT for potential data breaches, reflecting just how important this topic is becoming. ChatGPT, an artificial intelligence platform, is growing rapidly, with over 100 million monthly active users, making it the fastest-growing consumer application ever. This level of growth is causing concerns surrounding wellbeing, privacy, and labor.
Amazon President Andy Jassy released an open letter to all colleagues outlining the difficult past year and the need for job cuts. In total, 27,000 jobs were cut in the first round and a further 9,000 jobs were cut in a second period of job cuts. It is during times such as these that it is of utmost importance to consider ethical principles such as fairness, transparency, and accountability when developing and utilizing AI systems. There is also the issue of privacy, as AI systems usually rely on a large amount of personal data to operate. If this data is abused, privacy rights may be violated, potentially leading to discrimination and bias in AI systems.
It is important for countries, governments, and members of the G20 to ensure the problem of AI privacy and safety is addressed. Without safety measures in place, AI has the potential to disrupt economies, put privacy at risk, and perpetuate bias and discrimination. A collaboration between world leaders and tech giants is essential to ensure the responsible and ethical use of AI technologies. Collaboration will not only emphasize the importance of accountability and privacy but also help to create a broader understanding of the risks and benefits of AI.
