Wed 18-10-2023 00:23 AM
DUBAI, 17th October, 2023 (WAM) – Rapid policymaking and regulation are important for governments to fully harness the potential of artificial intelligence (AI) and mitigate the potential risks surrounding it, Khalfan Belhoul, CEO of Dubai Future Foundation, said during a plenary session titled “Is AI a Force for Good?” in World Economic Forum’s (WEF) Annual Meeting of the Global Future Councils 2023, taking place in Dubai from 16-18 October.
“No matter how fast and agile you are, the speed at which policies and tech innovations are advancing will always be there. The key is how much you mitigate and shrink that gap,” Belhoul added.
Belhoul elaborated on the importance of swiftly implementing regulations and fostering inclusive collaboration among industry stakeholders. He also stressed the necessity for policies to adapt to the continuous evolution of technology.
Belhoul acknowledged that although tech companies, innovators, the public sector, and industry experts may seem to have divergent goals, they do share common interests.
“Let’s convene, and let’s convene early,” he encouraged. He also highlighted the imperative need to establish a platform and environment that are inclusive, promote a global understanding of diverse concerns, and address these issues early on.
Belhoul noted that with many overlapping interests, coordination is key to a balanced approach to regulations while reconciling goals, stating that AI as a whole be regulated, rather its use cases must be regulated.
Also speaking at the panel session, Azeem Azhar, Chief Executive Officer, Exponential View, presented another perspective that focused on the potential risks associated with AI wielding power, stating “AI is ultimately the underpinning of the modern 21st Century economy.”
Azhar added: “AI is going to have an infrastructural component, which is the layer upon which other services are going to be built, and an interface element, which is the lens through which we access all of our digital services, whether they are public, governmental, or private. Because they’re so vital, it turns out that those are positions of power, because if you control the infrastructure and the interface, you really control what can be delivered and how people can access it, so AI ends up being a question of power.”
The Annual Meeting of the Global Future Councils 2023 is hosting 600 experts from academia, government, international organizations, business, and civil society from the 30 members of the Global Future Councils. In addition to AI, it is addressing topics such as job creation, cybersecurity, international trade, climate and food and water security, among others.
Tariq Al Fahaam