Abstract
Driven by the ‘fear of missing out’ (‘fomo’) on the benefits of AI, current decisions taken by governments around the world are focused on supporting the accelerated development of AI. There is very little discussion on the distribution of such benefits when they arrive. The discussions and the rising number of documents on AI policy have not lost sight of this challenge on the management of the benefits of AI. Public discussions at various levels are hinting at a possible system of distribution and access different from the usual market-based management of benefits. It is probably the least contested truism that AI will bring epoch-changing benefits that would definitely challenge the market-led economic order. This tendency is more evident in the displacement and destruction of ‘wage labour’ that the creative destruction of capitalism unleashes in its later (and /or current) stages of growth. The full steam deployment of AI is to be followed by lay-offs of biblical proportions alongside the production of unprecedented levels of wealth. The wealth AI creates needs to be used for the good of humanity and this needs to be the ethical and legal obligation of society. Beneficent regulation brings together the ethical concept of beneficence and the concept of regulation to synthesise a regulatory framework proposition to regulate the benefits of AI. The post-scarcity era that AI is expected to surrogate is a compelling prognosis to initiate and develop the regulation of benefits taking a detour from the conventional risk regulation framework.
Presenters
Hailemichael DemissieTeaching Fellow, Law School, University of Birmingham, United Kingdom
Details
Presentation Type
Paper Presentation in a Themed Session
Theme
KEYWORDS
AI, BENEFICENT REGULATION, BENEFICENCE, ETHICS, BENEFITS, JOBS, UBI
