As we enter 2024, the field of artificial intelligence (AI) is experiencing significant changes. Past AI failures have highlighted the importance of trust in this technology, leading to the introduction of new regulatory frameworks such as the EU AI Act and President Biden’s AI Executive Order. These measures aim to reshape the development of AI and prioritize safety over speed, potentially excluding organizations that prioritize expediency. Despite the known risks associated with AI, many organizations continue to prioritize speed over careful planning, resulting in poorly executed AI applications. A recent study has revealed a lack of trust in companies making responsible decisions about AI use. The Bletchley Declaration from the UK AI Safety Summit also emphasizes the importance of identifying AI safety risks and creating risk-based policies.
Generative AI services have captured public attention, bringing AI to the forefront of societal discourse. This has led to an escalation in regulatory efforts, driven by a collective recognition of the serious safety concerns posed by current and future AI harms, such as flawed healthcare algorithms and biased facial recognition technology. The article examines the debate between proponents of self-regulation and advocates for stringent rules, highlighting the need for a delicate balance. Additionally, the article emphasizes the disproportionate impact of AI harms on marginalized communities. Overall, the evolving landscape of AI is marked by a focus on trust, safety, and regulation, highlighting the need for responsible AI practices and the potential dangers of AI innovation.