India is very particular about the balanced approach in AI regulation. The government is aware of the risks of algorithmic biases and copyright issues, and a regulatory framework could emerge in future, but this process cannot be hurried up. It is so pragmatic to think that AI regulation cannot be an isolated one country issue. The digital world is borderless, and AI could be controlled with global coordination. India’s regulatory framework could emanate from international deliberations.

The European Union is contemplating a draft regulation for AI — the EU AI Act. The US is opting for a disaggregated oversight spread over various agencies. The governments cannot ignore common threats and will have to target these. There should be a risk-based approach, and an agreement over the main principles of trustworthy AI. There should be endorsement for international standards. There should be greater cohesion in AI strategies regarding applications of AI.

Unfettered AI could harm the employment market, even though it has the potential to create many new jobs. The governments will have to deal with this disruption. Bard is capable of coding in more than 20 programming languages. It is really scary to think of the impact it can have on IT services.

Thus AI regulatory framework cannot be avoided. China has announced draft regulations prescribing the registration of AI products with its cyberspace agency. There should be pre-release security assessments.

AI regulations do require private guardrails since AI is being increasingly embedded in so many products and services, processes and decision-making. There should be oversight on how data is being used by software which is evolving, and is becoming complex. The private sector has to come forward to suggest strong protective measures.