Regulatory Challenges of AI

Artificial Intelligence (AI), Machine Learning, ‘big data’ and ChatGPT have now reached the public consciousness in a big way, hence headlines such as ‘Central Bank of Ireland blocks ChatGPT for staff as financial services firms grapple with AI’ and ‘China’s Central Bank Warns Against ChatGPT ‘Data Leaks’.

Roland van der Vorst (Head of Innovation at Rabobank) has made the point that the way AI solves things is becoming less and less transparent. We don't know how it got its answers ¹.

He also makes that point that humans seem to be changing, increasingly focusing ‘our thinking on what is directly in front of us: the next suggestion or stimulus.’ ‘Instead of telling and coming up with big stories, we are trained to respond to the quick answer. Our main orientation increasingly seems to be the next step, rather than the broad vista.’