Even as there are recurrent requests for government action to address AI threats, Singapore is not hastily establishing AI regulations. Lee Wan Sie, director for trusted AI and data at Singapore's Infocomm Media Development Authority, stated to CNBC that "we are currently not looking at regulating AI". The Singapore authorities are striving to endorse the prudent use of AI, and they are inviting organisations to participate in the pioneer AI testing toolkit known as AI Verify.
Singapore is taking a wait-and-see stance on whether artificial intelligence should be controlled, rather than straight away instituting regulations. Lee Wan Sie, director for trusted AI and data at the Infocomm Media Development Authority, has told CNBC that "right now, we are not looking at regulating AI". Rather, authorities in Singapore are pushing for the responsible utilization of AI, and are rolling out the AI Verify toolkit, which allows users to conduct technical exams on their AI models and register process checks.
AI Verify was initiated in 2022, and IBM and Singapore Airlines are trailblazing the endeavor by conducting pilot tests within the program.
In recent months, the AI space has gotten more attention due to the success of chatbot ChatGPT, which achieved 100 million users in just two months after its launch. OpenAI's CEO Sam Altman and Tesla CEO Elon Musk have voiced caution about the implications of AI, encouraging government involvement. Lee, the Minister of Communications and Information, affirmed the need to work with the industry to learn about AI utilization before implementing regulations. Haniyeh Mahmoudian, an AI ethicist and U.S. National AI Advisory Committee member, noted the benefits for both businesses and policymakers when they collaborate.
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Mahmoudian stated that the industry is rather involved in AI. According to her, there is a discrepancy between what policymakers have in mind when it comes to AI and what companies are doing in practice. As a result, the establishment of AI Verify Foundation – a global open-source database which talks about standards, best practices, and governing AI – is a shared blessing for both parties. Numerous tech corporations, such as Microsoft, Google, and IBM have already joined the platform. Smith commended Singapore government because of their guidance related to AI and the introduction of the AI governance and testing framework.
At the Asia Tech x Singapore summit in June, Josephine Teo, Singapore's Minister for Communications and Information, remarked that the government is conscious of the prospective hazards of Artificial Intelligence (AI) but can't guarantee the ethical utilization of the technology by itself. She added that "the private sector with their expertise can participate meaningfully to work alongside us in achieving these goals." Teo then highlighted the fact that there are "very real fears and worries related to AI's development", however, it is up to us to ensure that AI is used for beneficial purposes and not the opposite. She stated that this is "core to how Singapore thinks about AI". Apart from this, some nations are already taking steps to control AI. To this end, the European Union set the first minimum standards with its Artificial Intelligence Act. On Wednesday, members of the European Parliament agreed to keep generative AI tools like ChatGPT under stronger regulations.
Emmanuel Macron, the President of France, and his cabinet, have made clear that they believe AI regulation is essential. In a conversation with CNBC last week, Macron noted that even American firms agree with his stance: “I think we do need a regulation and all the players, even the U.S. players, agree with that.”China is in the process of formulating regulations to oversee the production of generative AI items like ChatGPT.
Stella Cramer, the Asia-Pacific head of Clifford Chance's tech group, opined that Singapore could serve as a "steward" in the region, permitting innovation to take place in a secure setting. The law firm works together with regulators in devising guidelines and frameworks in a variety of markets.
According to Cramer, Singapore is seen as a reliable location to test out technology with the backing of its regulators under tight-knit guidelines. Projects such as the FinTech Regulatory Sandbox and healthtech sandbox have been developed to give industry professionals the opportunity to experiment with their products in a live setting before bringing them to the public. "Through frameworks and testing toolkits, AI governance can be encouraged to ensure secure and reliable AI for businesses," Cramer stated. IMDA's Lee further explained that AI Verify could be used to meet certain requirements, and that for any regulation to be enforced, the procedure must be known.
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