The Pitfalls of Regulation in the AI Field

This episode is sponsored by EY and Brave. 

In the last few months, artificial intelligence (AI) has grown exponentially and rapidly, raising concerns over its safety and the adverse consequences it may have on society if it is not addressed.

However, the application of artificial intelligence in the crypto space has many exciting advantages. With artificial intelligence, trading algorithms can analyze vast amounts of data and make informed decisions about buying and selling cryptocurrencies. Cryptocurrency fraud can be detected and prevented using artificial intelligence. Blockchain networks can be optimized using artificial intelligence. Furthermore, AI can even enhance the privacy and security of cryptocurrency transactions. 

So what is all the fuss about if AI can bring all this good? 

There are potential drawbacks and negative aspects to consider. Some of the main negatives of AI include job displacement, bias and discrimination, privacy concerns, dependence and overreliance, ethical concerns, and lack of transparency and regulation. 

 On this episode of “Money Reimagined,” to help unpack this important topic of AI ownership and distribution, Michael Casey and Sheila Warren speak to Jacob Steeves, founder of Bittensor, an open-source protocol that powers a decentralized, blockchain-based machine learning network.

Casey jumps right into the discussion of the controversial op-ed of Eliezer Yudkowsky, author, founder, and leading thinker in the AI space, and its impact on the AI community. 

On this show Michael and Sheila discuss:

•  Connective threads of drama. 2:38
• What happens when you know that you’re right? 4:54
• The rise of Ai and the potential for regulation. 5:29
• How do we establish a decentralized world? 7:15
• What is the difference between absolute and extreme thinking? 9:27
• Ethical and intellectual perspectives. 10:50
• The core thesis of the paper. 14:26
• The core premise of Bittensor.io. 15:33
• The governance question around open AI. 19.03
• The problem with Web 3.0. 25:28
• Capitalism vs. Governance. 28:50
• The bias of people who get into cryptocurrency. 33:47
• The positive vision of AI. 35:35
• Protecting the status quo vs. imperialism. 38:19

 See Also:

General documentation: https://docs.bittensor.com

Bittensor whitepaper: https://drive.google.com/file/d/1VnsobL6lIAAqcA1_Tbm8AYIQscfJV4KU/view

Academic paper (NeuralIPS 2022 publication): https://ai-secure.github.io/DMLW2022/assets/papers/6.pdf

Slideslive Video: https://nips.cc/virtual/2022/62821

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Money Reimagined has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “AITA” by Neon Beach.

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