- Countries around the world are competing to develop their own strategies for developing AI technology.
- The CEO of venture capital firm General Catalyst told the Journal that international cooperation will be important.
- He said world leaders should “align on some core protocols” when it comes to AI development.
As countries around the world vie for supremacy in the AI arms race, some investors believe it’s time for the international community to get on the same page about where artificial intelligence is heading.
One Silicon Valley venture capitalist, whose firm backs big tech companies like Snap and Stripe, says cross-border “guardrails” and a spirit of “cooperation” are key.
As AI development gains momentum, many countries want a piece of the pie, Hemant Taneja, CEO and managing director of venture capital firm General Catalyst, wrote in this month’s Wall Street Journal. He spoke at the magazine’s CIO Network Summit.
“Every country has its own ideology,” he said, adding that the world’s patchwork goals for the technology meant a “cooperative model” that brought all countries on board was needed. Taneja’s company has backed other brands, including diabetes care company Livongo, and is working with other of his VC firms, AI companies, and the U.S. Department of Commerce to create guidelines for his new AI technology.
“There is a sense of tension right now that no country wants to be left behind. France wants its own strategy. India wants its own strategy. We want the cultural nuances of the country to be reflected,” Taneja continued. “When you think about that dynamic, there’s a risk that it’s going to be siloed, unlike the way we built the internet. So we’re talking about a collaboration model that is a common framework to create guardrails that will actually accelerate progress. We need to think about it, but in a responsible way.”
More AI rules deployed around the world
Taneja’s comments to the Journal come as governments around the world grapple with how best to regulate AI, a rapidly evolving field that no one knows quite how to manage. However, it is extremely important to do it correctly. According to PwC analysis, AI could contribute up to $15.7 trillion to the global economy by 2030.
The European Union is set to sign a law called the AI Act, which will establish different standards for AI based on how dangerous its use is. For example, there will be stricter laws in place for companies that use AI for hiring and law enforcement. The law was voted on by the European Parliament in April and could come into force in 2026.
China has already approved more than 40 AI models, and the government requires them to “maintain socialist core values.” But experts have warned that the country could struggle to compete globally given U.S. restrictions on some technological elements needed to build and train AI.
With AI powerhouses like OpenAI, the US is at the forefront when it comes to AI innovation, but it’s right in the middle when it comes to regulation. President Joe Biden signed an executive order in October directing various agencies to develop AI standards and giving the U.S. government some oversight over large-scale AI development. However, it remains unclear how enforceable or widespread the regulations will be.
So far, Russia has lagged behind China and the United States in AI development. Russian President Vladimir Putin said in November that his country was planning an ambitious counterstrategy for AI development to prevent Western countries from dominating AI innovation.
In his remarks to Barron’s, Taneja suggested that world leaders should “align on some core protocols” on AI development, but added that “AI should not be regulated too soon. ”, he said, adding that the technology’s potential is not yet fully understood.
“It’s difficult because every country has its own ideology,” he said. “There’s also another dynamic where we don’t want value to only accrue to large companies. We want to have a level playing field for innovation.”
