The Financial Times is known for its pro-business stance so it’s interesting to read this piece by Cristina Criddle and Anna Gross where the UK Government floats an idea for being pro-innovation whilst keeping the threat of legislation if Big Tech companies don’t “do the right thing” on AI through voluntary action.
Rather than go straight for detailed legislation, like the EU has done with the EU AI Act, the UK Government is hinting that it will develop a series of tests to determine whether new laws are needed to regulate AI.
The UK government’s “Regulation Roulette” is a curious gamble, one where the stakes are the safety and well-being of its citizens. While applauding their initial reluctance to stifle innovation in this nascent field, their proposed approach feels worryingly like hoping the social consciences of Big Tech companies will win out over the desire to make profits. Hmmm, there’s no track record to give us confidence this approach will work.
The vagueness surrounding the proposed tests leaves us wondering if this is actually a veiled threat, a regulatory gun held loosely against the temple of Silicon Valley, or simply a naïve hope that self-policing by trillion-dollar corporations will magically materialise. Who defines “acceptable” levels of algorithmic bias? Whose metrics will quantify the “risk” of social impacts like mass unemployment? We fear the answers lie not in objective criteria, but in the persuasive whispers of a well-funded tech lobby.
We agree that strict regulation could stifle innovation in the AI sector but we also know that voluntary commitments from tech companies are not enough. We’re worried that the Government is spinning the roulette wheel and hoping for the best when they should be focused on protecting society.
We’ve worked in government relations so we know that the small army of lobbyists in the tech sector will do an excellent job in justifying why their approach to mitigating risk is sufficient. With such novel applications, and the overwhelming dominance of a few large businesses, who else will be in a position to counter their claims that further regulation would stifle innovation?
The UK government needs to recognise that the roulette wheel of AI regulation spins with loaded chambers. Leaving the fate of society’s security and ethical standards to a game of chance, albeit one with a vaguely menacing undercurrent, is simply not good enough. They must move beyond performative gestures and craft robust, transparent regulations that hold Big Tech accountable, fostering innovation within a framework that prioritises the public good.
This is not a time for hoping for the best; it’s a time for rolling up our sleeves and ensuring that the very technology shaping our future does so responsibly and ethically. The UK has a chance to lead the world in crafting AI regulations that benefit both innovation and humanity. Let’s hope they don’t gamble it away.
