AI Neeti-Shastra
With the proliferation of user-friendly generative-AI apps, people are realizing, contemplating, and predicting the scale and timeline of transformative impact, AI is likely to unfold, in our economy or society at large.
Would AI lead to massive job cuts in the near future? If yes, which sectors are going to be affected more and by when? If we increasingly depend on algorithms for decision making, who is accountable when AI falters? Wouldn’t AI be increasingly used to deepen the fragile fault lines embedded in our societies by those who stand to gain the most by it?
Such questions on the potential contours of AI regulation, with no easy answer, are on the minds of tech leaders, governments, and thoughtful internet users, like this newsletter community.
All major nations of the world, including India, started to engage deeply with AI, a few years back, and have come out with their respective preliminary vision documents. India can play a decisive role in navigating the global AI discourse, provided it evolves a thoughtful framework of AI within the country.
Simplistically, key issues to be addressed in an equitable yet robust AI regulation are the following –
First, democratize AI technologies and enable access to clean curated data. This would lead to sector-specific, demographically-diverse AI solutions, critical for addressing public issues in health, education and finance.
Large quantities of data alone does not translate into better results. Accuracy and curation are necessary prerequisites. There are two major sources of such curated data. One can be open-access government data and second is private data. There is a need to explore different models of enabling access to private sector data while ensuring and protecting users rights and company IP.
Second, ensuring adequate government funding and investment in AI R&D, enabled through industry and academia collaboration. As of now, AI is expensive, it is the prerogative of few corporations who can make long-term strategic bets on it. Public funding for AI would enable creation of a talent pool outside of big corporations.
Third, it is critical to develop an AI focused intellectual property framework that encourages innovation. AI systems are trained by reading, viewing, and listening to copies of human-created works. These resources such as books, articles, photographs, films, videos, and audio recordings are all key subjects of copyright protection. How does the regulation minimizes unauthorized infringement and incentivizes creator-led access to the copyrighted human generated data, would be a challenging task.
Fourth, enabling and strengthening the complementary legal framework, where AI technologies may impinge the most. This includes – data protection laws, competition laws, consumer protection laws, and non discrimination laws.
Lastly, beyond any policy document, however nuanced it may be, unlocking prosperity through latest AI technologies, is contingent on the desire and collective awareness of the society it is deployed in.
We all, as individuals and citizens, would have to play our part in increasing awareness and prioritizing ethical use of the latest technologies.
Ecosystem Ventures This Week
We are happy to share that Mr. Abhishek Sanghvi (Partner, Ecosystem Ventures) was invited as a Speaker & Moderator of Startup and IT Conclave on the occasion of “Indore Gaurav Diwas”.
Startup Funding Summary
HealthifyMe, Bengaluru-based health-tech startup, has raised $30 Mn in Pre-Series D funding from LeapFrog Investments, Khosla Ventures, FinnFund, Van Lanschot Kempen, Unilever Ventures, Blume Ventures, Chiratae Ventures and Healthquad – Read More
Lentra, Mumbai-based cloud lending company, has raised $27 Mn in Series B funding from MUFG Bank and Dharana Capital – Read More
River, Bengaluru-based EV startup, has raised $15 Mn in a funding from Al Futtaim Group, Lowercarbon Capital, Toyota Ventures, Maniv Mobility and Trucks VC – Read More
Genwise, Delhi-based elderly focused startup, has raised $4 Mn in seed round funding from Matrix Partners India, DBR Ventures, Climber Capital, Kunal Shah, Suhail Sameer and Achal Mittal – Read More
TradingLeagues, Bengaluru-based fantasy stock gaming startup, has raised $4 Mn in Pre-Series A funding from Leo Capital, Jeejeebhoy Family Office and KP Balaraj Family Office – Read More
M&A Snippets
Delhi-based Fintech startup CredFlow has acquired Kenya-based business management startup TechBiz for an undisclosed amount – Read More
Leave a Comment