Mint Primer: Grave new world: Can we oversee AI decisions?
Mint explains the hybrid approach: MCA’s new AI-powered compliance system will be rolled out on its MCA21 portal once an ongoing upgrade and migration of forms to high-security ones is completed in a couple of months, Mint reported, citing an unnamed official. However, while the system will draw up a list of errant companies, only an authorized official will take a decision in this regard. The idea is to adopt a “human-centric" approach to AI, and give the non-compliant companies time to respond before serving a notice.
The approach is not unlike regulators calling for a public discourse on draft laws before finalizing them. MCA21 was designed to automate all services related to enforcement and compliance of requirements under the Companies Act. In a “Vision 2019-2024" document, MCA underscored the use of AI, ML and “real time analytics" to develop a common platform to connect all economic and financial regulators’ databases and avoid duplication of data.
In March 2020, the Lok Sabha was informed that Version 3 of the MCA21 portal would use AI and ML to enhance “security and threat management" solutions, among other things. This time around, MCA plans to include humans to supervise the AI-powered results. Keeping someone in the loop typically implies making that person part of, or at least privy to, the decision-making process.
Even in highly-automated factories, known as “lights out" plants, there are humans who remain present to halt processes with a “kill switch" in case of an emergency. This concept is now being adopted by policy makers to govern AI. Generative AI models are known to convincingly provide wrong answers, plagiarize, violate copyrights and trademarks—all without a moral compass.
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