The recent shakeup at OpenAI has once again called into question how AI needs to be regulated and handled at the corporate board level. This technology has been rapidly adopted by many businesses and continues to grow and develop, causing a need for proper regulation. Who should handle this regulation and how? Amy Webb, Future Today Institute CEO and Sinan Aral, MIT Professor of Management, Marketing, IT, and Data Science join Yahoo Finance to discuss the turmoil at OpenAI and why it’s time for people, businesses, and the government to get serious about regulating AI and how businesses deal and operate around AI.
Webb outlines what regulations should look like for AI: “We are approaching AI in a punitive way with regulation that hasn’t worked so far. Regulation is really hard to enforce because it is inherently a look back versus a look forward. The better way forward is to use an incentive structure that compels, in a financial way, companies to make better choices. This is something that has never been tried in the United States before, and I really do think the events that took place over the past few days, shows us that we need a different approach going forward.”
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