Maroc - EURASIAREVIEW.COM - A la une - 26/Mar 23:49

Politicians Shouldn’t Fear AI – OpEd

By Param Vir Singh Language was the original technological revolution. Between 200,000 and 300,000 years ago, early humans in Africa developed the cognitive and syntactic capabilities to structure thoughts into meaningful expressions. This innovation not only transformed communication but also laid the groundwork for mathematics, music, and technological progress. Today, artificial intelligence (AI) presents a similar moment of transformation offering new ways to process, generate, and act upon information at an unprecedented scale. AI’s potential to enhance human intelligence, productivity, and decision-making is vast. While some warn of its risks, history suggests that revolutionary tools drive progress rather than hinder it.The economic benefits alone are staggering. AI is expected to contribute trillions of dollars to global markets over the next decade, fostering new waves of prosperity for nations that successfully integrate it. From accelerating drug discovery to optimizing supply chains, AI’s ability to streamline complex processes will have profound implications for both businesses and consumers. Conversely, countries that lag in AI development may find themselves at a competitive disadvantage, particularly in national security and economic stability. As AI adoption reshapes global industries, nations that hesitate to embrace it risk falling behind not just economically but also in technological sovereignty. The ongoing race between the US and China to dominate AI underscores its strategic significance. Yet, despite these opportunities, the US appears to be hesitating. Regulatory scrutiny of algorithmic AI—a form of AI that relies on rules derived from data patterns and past training to analyze information and make recommendations—is on the rise. While generative AI, which creates new content, is relatively new, algorithmic AI has long been employed in industries ranging from logistics to finance, optimizing pricing strategies and increasing efficiency. Companies such as Amazon and Walmart rely on AI-driven pricing to adjust prices dynamically, while consumers benefit from lower prices on less in-demand goods and services. Algorithmic AI is also critical in sectors like energy, where it helps balance electricity grids, and in agriculture, where it optimizes water usage and crop yields. Despite its efficiency, regulatory concerns persist, often based on worst-case scenarios rather than real-world evidence of harm. Ironically, the US government itself has embraced AI for decision-making. Federal agencies use AI to price toll roads, detect fraudulent payments, assess suicide risks among veterans, and expedite Social Security disability claims. These applications demonstrate how AI can enhance efficiency, reduce human error, and improve outcomes for millions of citizens. Yet, regulators are now scrutinizing private-sector applications, particularly in hotel and rental pricing, where the Department of Justice has signaled broader concerns about AI’s role in pricing models. This paradox—where AI is celebrated in public use but feared in private enterprise—raises critical questions about whether regulations are being driven by economic logic or political concerns. Legal challenges have already highlighted weaknesses in the government’s stance. In weighing the government’s position, judges have struggled with the fact that businesses have been free to ignore the pricing recommendations of the AI software. Many states have even prohibited local governments from enacting rent control laws due to their long-term economic impacts, but limiting algorithmic AI would do virtually the same thing. We risk repeating these policy mistakes—limiting market efficiency and ultimately harming consumers rather than protecting them. Internationally, the regulatory landscape varies. That said, the European Union and certain US states are pursuing stricter AI oversight, and their caution risks stifling innovation and hindering AI’s ability to improve efficiencies in healthcare, urban planning, and market operations. Simply put, fear-driven policies should not be allowed to derail its transformative potential. Human progress has always depended on our willingness to embrace transformative technologies. Just as language catalyzed civilization’s advancement, AI offers a unique opportunity to propel human potential. If history is any guide, those who embrace innovation will lead the future. About the author: Param Vir Singh is Associate Dean, Research and Carnegie Bosch Professor of Business Technologies and Marketing at Carnegie Mellon University Tepper School of Business. Source: This article was published by FEE