The Impact of AI on Society: Optimism and Fear

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The AI Act has gained attention within the AI community and has the potential to significantly alter society and the economy.
Despite initial skepticism, regulations such as the Digital Services Act have been successfully implemented, which gives hope for regulating AI.
There have been historical instances where challenging situations resulted in positive outcomes for humanity, suggesting that society can navigate the challenges posed by AI.
The ongoing debate and legislative process surrounding AI regulation demonstrate a civilized approach to addressing this technology.
While there is room for improvement in current legislation, there is optimism that companies will adapt and new emerging issues will be addressed.
The concentration of power in a few companies and surveillance capabilities raise concerns about the potential misuse and environmental impact of AI.
Acknowledging the terrifying aspects of AI is justified, but it is important to continue working towards a solution with the belief that it is achievable.

Welcome to episode #129 of Eye on AI with Alexandra Geese. Navigating the complex waters of the European Union’s AI Act is no simple task. Yet, that’s exactly what Alexandra Geese, a member of the European Parliament, and I venture to do in this conversation. Alexandra’s insights into the AI Act, its four defined categories of AI applications, and its current negotiation phase with the European Council and the European Commission are illuminating. We delve into the Act’s essential mission: ensuring AI serves humanity, while also exploring the influence of powerful players in the AI industry on the EU’s legislation. As our journey deepens, we tackle a range of crucial issues underpinning the Act. Alexandra and navigate through potential economic implications for those who rely on copyright legislation, and the risk of Europe falling behind in AI implementation if the Act is too restrictive. We also touch on the involvement of major American AI firms in the Act’s finalization process, and implications for copyrighted material. We dive into the ongoing debates shaping the legislation and the enforcement of the law, once passed. Alexandra shares her thoughts on potential fines for violations, different AI zones, and the possibility of the US following Europe’s lead in AI legislation. We wrap up with a deep reflection on the environmental impact of AI, the power held by few companies, and our collective responsibility as AI reshapes the world.

(00:00) Preview

(00:52) Introduction

(03:10) Alexandra Geese background in digital legislation

(04:00) The AI act: the explanation and details

(08:00) The foundations of corporations for AI regulation

(13:00) Copyright regulation and impacts of creativity

(17:00) We need AI that serves humanity

(21:30) Are foundation models high risk to society?

(25:00) Should people be worried about investing in AI?

(30:45) What is dynamic AI regulation?

(36:10) What is the timeline for AI regulation?

(38:50) What penalties will be applied to AI regulation?

(44:30) Will US & EU merge on AI regulation?

(50:30) How to solve AI hallucinations

Craig Smith Twitter: https://twitter.com/craigss Eye on A.I. Twitter: https://twitter.com/EyeOn_AI

Found is a show about founders and company-building that features the change-makers and innovators who are actually doing the work. Each week, TechCrunch Plus reporters, Becca Szkutak and Dom-Madori Davis talk with a founder about what it’s really like to build and run a company—from ideation to launch. They talk to founders across many industries and their conversations often lead back to AI as many startups start to implement AI into what they do. New episodes of Found are published every Tuesday and you can find them wherever you listen to podcasts.

Found podcast: https://podlink.com/found