THERE is a need for a middle ground that will also play the role of a guardrail to monitor and regulate the growth of artificial intelligence.
In a recent forum on Generative AI during the AI Summit 2023 organized by the Aboitiz group of companies, Cliff Eala, Synerbyte Limited, behavioral strategist told the audience there is no denying that artificial intelligence (AI) is here to stay and people must adapt to its coming. “We must embrace the advent of advanced technologies, and at the same time there is a need to put up the necessary safeguards to address the ethical dilemmas,” Eala explained.
“Players will not self-regulate and we definitely need a middle ground,” Eala added. During the forum, Eala also underscored the importance of implementing a comprehensive and robust data privacy for the country as AI will get smarter and smarter in the future. “When AI gets smarter, who’s going to regulate it? asked Eala.
Dr. Donald Patric Lim, chief operating of DITO CME, said AI and other technologies will move forward despite the apprehensions of some quarters. Further, he compared the coming of AI to the emergence of the internet in the middle of the ‘90s wherein it grew despite the resistance of some critics. “The possibilities of AI are here and it’s on us to react to the changes,” he said.
Meanwhile, Dr. David Roi Hardoon, chief data and AI officer of UnionBank Philippines, expressed optimism pointing out that AI will introduce drastic changes in the Philippines towards a better future. “AI is here and it will make a difference,” he said. “It will create opportunities and new capabilities,” he said.
Edwin Bautista, president and CEO of UnionBank, said there is a possibility that regulating technologies such as AI might stifle its growth. Further, he said there must be a good balance between regulating and allowing AI to grow.