Regulating Artificial Intelligence: Preventing Economic Disruption and Ensuring Social Stability

Regulating Artificial Intelligence: Preventing Economic Disruption and Ensuring Social Stability

Executive Summary

The rise of artificial intelligence (AI) is one of the most popular topics of the 2020s that are often discussed by scientists, journalists, industry leaders, and regular individuals. Whereas AI tools provide unique benefits for a variety of stakeholders, their use is accompanied by a set of social and economic risks. In particular, the available evidence provides a compelling reason to believe that the integration of AI into different industries can lead to the disruption of the economy, job displacement, and increased social inequality. A number of employees in the public and private sectors are at risk of job loss, such as workers of manufacturing factories, content creators, administrators, drivers, and many others. Scientists and practitioners continue arguing over the best way to approach the threats of AI in a way that would prevent economic disruption and ensure social stability without hampering AI research.

The current white paper is dedicated to a critical analysis of ways to regulate AI tools to address the social and economic risks of this technology. The main goal of the research is to offer a set of practical recommendations to regulate AI so that Generation Z could benefit from the technology in terms of ensuring social stability and economic prosperity. The…