Governance key to enjoying rapidly developing benefits of AI: WEF panel

Industry leaders at a World Economic Forum panel say the changes brought by AI present huge opportunities, but they need checks and balances at all levels.
Derek Andersen
Posted by Derek Andersen January 16, 2024 2 Mins Read
Industry leaders at a World Economic Forum panel say the changes brought by AI present huge opportunities, but they need checks and balances at all levels.

Reaction to the astounding development of artificial intelligence (AI) has ranged from alarm to jubilation. With the dramatic pace of its evolution, rebuilding trust in AI is a constant open question. Cointelegraph’s Kristina Lucrezia Cornèr explored sentiment toward AI in a panel discussion with industry leaders she moderated at the World Economic Forum (WEF) in Davos, where rebuilding trust is this year’s theme.

Optimism and expectation were the predominant feelings expressed by the executives. “Personally, I’m not worried” about the fast pace of change brought on by AI, Viviana Gropengiesser, director of entrepreneurship of the ETH AI Center, said. “I am aware of the complexity. […] I think it’s a major chance for us to create a completely different type of world and society.”

Clara Tsao, a founding officer at the Filecoin Foundation, highlighted the responsibility that comes with the new power. She said:

“It’s been interesting to see the challenges as well with the web that has come with every wave of innovation. […] A lot of companies today are thinking about what is acceptable content and behavior online, and it just becomes a layer more complicated when there’s automation.”

But along with the potential for unacceptable content, there is the ability to make instantaneous translations, access works of art and enjoy other benefits, Tsao pointed out.

Related: Filecoin Foundation explores space for decentralized storage system

Franziska-Juliette Klebôn, head of data and AI at Microsoft Switzerland, pointed out the high level of decision-making on AI standards. They have to be dealt with in the boardrooms of companies the size of Google and Microsoft and in smaller companies. “How do we adapt with this real fast change? How do we upscale ourselves?” she asked. The United Nations, European Union and various governments have taken up the challenge of answering those questions.

Aditi Joshi, Google Cloud AI program lead, agreed with that approach. “As long as we have governance, […] things are going to be so much more efficient,” she said. Joshi saw personal aspects of the transformations AI is bringing as well. The new technology may encourage longer work hours too. “You have to have checks and balances within yourself,” she concluded.

Magazine: ‘Moral responsibility’: Can blockchain really improve trust in AI?

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