AI regulation in India must take a targeted approach to keep risk levels low
Subscribe to enjoy similar stories. Artificial intelligence (AI) holds transformative potential for numerous sectors. Yet, its deployment brings significant ethical, legal and societal challenges.
As India aspires to become a global AI leader, it is crucial to establish a robust approach to regulate high-risk AI systems that prioritize consumer protection while fostering innovation. Focus on high-risk AI systems: These could significantly impact critical sectors such as healthcare, finance and law enforcement, and thus need regulation to mitigate potential harms. The EU’s AI Act uses such a risk-based approach, imposing stricter regulations on high-risk applications.
We should build on the successes of other nations while considering local needs. To this end, India’s convening of the recent Global India AI Summit 2024 was a step in the right direction. Its key highlights included recommendations on how AI technologies could be integrated into health systems worldwide while being attuned to local challenges.
But integration alone is insufficient. It is crucial to ensure that it works against bias arising out of pre-existing societal discrimination issues. For instance, in healthcare, AI-driven diagnostic tools must undergo stringent testing to ensure patient safety and accuracy.
In the financial sector, AI algorithms used for credit scoring and fraud detection should be audited regularly for bias and accuracy, ensuring fair treatment of all consumers. Finally, to combat the threat to democratic processes from the rise of deep-fakes during elections, legislation must be brought to criminalize the malicious use of AI to spread misinformation. Enhance consumer protection to build trust: This must be a cornerstone of AI
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