Sat here with interesting updates from the SBDC Business Summit in South Florida. I had the pleasure of sharing the stage with the VP of the US Chamber of Commerce Jordan Crenshaw regarding AI technology, the risks, viability, security, and regulations.
Jordan and I conversated about the ways Capitol Hill is thinking about regulations of AI. We spoke to the audience about the gap that current regulators have while trying to create policies around AI, which is small businesses in various industries and true innovators at the bottom line (startups).
Today AI has a growing question about the practicality of AI in the workplace, from replacing employees to accuracy and bias in the data. Jordan and I shared similar perspectives in the fact that when thinking about the application, we should think about augmenting instead of replacing it. This method of thinking adds the ability for managers to keep a human in the loop to the quality of the AI involved in heavy data movement.
When we think about accuracy of data, it’s split into the amount of human involvement to train or clean data which adds a bias by default. At the same time, we need to think about which types of models we are using, which have been trained on a selective date of data. This means, with each passing day the models become less and less accurate if there is not a constant cycle of training from RWE (Real world evidence) data.
Questions from the crowd were around, how can businesses control AI and protect their data? Which in my opinion came down to the business goals and applications of AI. We all know it’s a data labor problem of some sort, the question is at which point in the business do you insert AI? Like marketing is way different than policy and compliance control, trust is different as companies like Jasper could be in the public cloud and be fine to operate with, but other companies that are dealing with PII data need to be on-prem or in private cloud at the very least.
I eagerly anticipate learning more about Capitol Hill’s strategies for establishing control measures for AI. As the landscape continues to evolve, I believe that thoughtful and informed regulations will play a pivotal role in shaping the responsible and effective deployment of AI technologies.
Sat Ramphal, Co-Founder of Maya AI
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