... But, as a specialist in competition and consumer protection, I have formed the view that calls for new AI-specific regulationsare largely misguided. ...
Here’s my thinking: most of the potential uses of AI are already covered by existing rules and regulations designed to do things such as protect consumers, protect privacy and outlaw discrimination.
These laws are far from perfect, but where they are not perfect the best approach is to fix or extend them rather than introduce special extra rules for AI. ...
The best approach is to make existing rules work
One of Australia’s great advantages is the strength and expertise of its regulators, among them the Competition and Consumer Commission, the Communications and Media Authority, the Australian Information Commissioner, the Australian Securities and Investments Commission, and the Australian Energy Regulator.
Their job ought to be to show where AI is covered by the existing rules, to evaluate the ways in which AI might fall foul of those rules, and to run test cases that make the applicability of the rules clear. ...
Last mover advantage
Finally, there’s a lot to be said for becoming an international “regulation taker”. Other jurisdictions such as the European Union are leading the way in designing AI-specific regulations.
Product developers worldwide, including those in Australia, will need to meet those new rules if they want to access the EU and those other big markets. ...
See the full story here: https://theconversation.com/the-best-way-to-regulate-ai-might-be-not-to-specifically-regulate-ai-this-is-why-238788