Around the world, entrepreneurs, governments and academia are working to harness the benefits of emerging technologies. Few advancements are showing as much potential and opportunity to transform society as artificial intelligence (AI). From medical devices that are helping doctors and nurses diagnose patients quicker and more accurately, to self-driving cars that are making roads safer and reducing the rate of accidents, to models that can better predict weather patterns, AI is already making a positive difference in our lives. It will also fuel the next wave of economic growth. In fact, experts estimate AI will add between $7.1 trillion and $13.17 trillion to the global economy by 2025.
As this technology continues to flourish, the tech industry is committed to making sure AI is developed and deployed in a way that continues to enrich our society and enhance our economy.
ITI took an important step last year by releasing the first-of-its-kind AI Policy Principles, which provide a compass for governments, academics, civil society and industry as we embark on this new technological frontier. These principles focus on promoting responsible development and use, investing and enabling the AI ecosystem, and promoting lifespan education and diversity of AI into the technology’s design – beyond compliance with existing laws.
But to fully realize the benefits of this technology – and address its challenges – industry can’t operate alone. Collaboration among the private and public sectors is critical. Governments in particular can play a key role and are uniquely positioned to ensure AI aids people and society.
To that end, we urge governments across the world, including the U.S. and EU, to participate in the development of global, voluntary, and consensus-based standards and best practices for both private and public users of AI. As part of that effort, we encourage governments to promote global cooperation when investing in foundational scientific research and take steps to ensure they are protecting sensitive data and addressing national security concerns.
The benefits of AI are virtually limitless, but we must continue to empower the people and approaches that will allow this technology to advance responsibly. Robust and international multi-stakeholder partnerships will help ensure we reach our shared societal and economic goals and realize AI’s full potential.
This journey will not be without its challenges and will require ongoing assessment and evaluation to make sure we are doing everything to drive innovation responsibly. On behalf of the tech industry, I can say we are committed to working in good-faith to make sure we get this right.