Microsoft is responding to the AI hype wave by calling for regulations.
Microsoft Corporation $MSFT+0.5% is responding to the rapid growth around AI and company president Brad Smith has come up with a proposal for regulation.
Yesterday we saw, to some people's surprise, a huge surge after the results of $NVDA+0.7%, which took other similar companies like $AMD+3.2% with it.
Microsoft Corporation 's $MSFT+0.5% of course made the growth nice too, as it's no secret that it has strong ambitions to be a leader in AI. Last night, a report emerged setting out 5 principles the government should consider when regulating AI as it rushes to ensure that laws and enforcement can keep up with the rapidly evolving technology.
The 5 principles announced by Microsoft President Brad Smith are:
- Installing and building government-led AI safety frameworks, such as the U.S. National Institute of Standards and Technology's AI Risk Management Framework.
- Requiring security breaks when AI is used to manage critical infrastructure.
- Creating a legal and regulatory framework for AI applications, advanced baseline models, and infrastructure.
- Promoting transparency and funding for academic and non-profit research.
- Creating public-private partnerships to use AI to address the impact it will have on society, in areas such as democracy and workforce.
Smith suggested that AI services adopt a framework from the financial services sector: know your customer, or KYC. In this case, however, it should be KY3C, meaning AI developers should know their cloud, customers and content to reduce fraud or deceptive use.
Smith announced the new framework at an event in Washington, DC, yesterday. It's the latest push from an industry leader for the government to create and enforce boundaries on how the technology is used, as others in the industry have warned that the significant implications of unregulated development should give pause .
Also last week, Sam Altman, CEO of ChatGPT-maker OpenAI, urged a Senate subcommittee , to implement protections and boundaries on AI technology.
We already know, with the beginning of the year, that Microsoft has invested $10 billion in OpenAI. "We formed our partnership with OpenAI based on a shared ambition to responsibly advance cutting-edge AI research and democratize AI as a new technology platform," Microsoft CEO Satya Nadella said in a blog post.
So what do you think of these 5 principles? Prices are high right now in this sector, but maybe with only this company $MSFT+0.5% I'm thinking of maybe overbuying with small amounts in the form of DCA. Plenty of companies grow on hype and fall again, but with Microsoft I believe they are really stomping it and will stay at the forefront of the giants. :)
At least this kind of "self-reflection" is great. Of course, there's going to be an awful lot of regulation. I'm kind of hoping that the EU doesn't go through with them so we don't miss the train.
Yeah, well, the EU can really crank up the regulations :D
These big corporations may have it a lot easier in the future if everyone creates their own AI. It would be good for them in the computing industry and I'm curious about it. I'm excited to see how new technologies emerge.
So do I. It's a bit scary how far it can go, but it's just progress, which if not just abused can accelerate even once the colonization of the planet, but I'm too far. 😂🚀
Transparency and security must come first if we are to realise the full potential of AI.
I trust Miloff on this one and his view that the calls for a halt are just marketing and SkyNet is not in danger
So marketing it is for sure, but they will still go about their business and want to reach their goal. 😊
I don't know if you read my article yesterday, but I would be interested in the regulation within AI and the stock markets in connection with this.
Yes I read and I wrote you there that exactly, it's nice that they want to solve it somehow and make some regulations, boundaries, I'm definitely for it. On the other hand, I believe in part of the various conspiracy theories. There's a lot of people in the world and I would believe that the big things that happen are created many times differently than what we read somewhere on the web or see on TV. I don't believe, for example, that Covid-19 was just accidentally leaked. etc., there's a lot of stuff, but that's probably for another space. 😊 Moreover, I digress, in connection with the market, perhaps there will be some. Even now markets can be manipulated, but it's true that if it's in the hands of AI only, that could be the end of it. It's a bit scary what AI could do...😊
Regulations are a necessity here, otherwise it will all end badly. Will these 5 points be enough in your opinion?
Well, for starters, yes. Rather, then, and perhaps, who would look at the body, the company that would manage it? Because it's going to be a lot of power in somebody's hands, and what kind of person, selfishly power-hungry since time immemorial... We'll see where it goes in a few years. 😊