🫴 OpenAI CEO Calls for "Under-Regulation" Fix in AI Industry: Again!!!
"Man is an Animal That Makes Bargains" [Adam Smith]
Can a simple framework change your life?
Doubtful. But it can change the way you think. Which can change the way you act.
Here's a simple way to understand how the Ai revolution could be Regulatory Captured before it has even really begun
In the News: Sam Altman [Open Ai Goes On Worldwide Regulatory Tour]
What's New: OpenAI CEO Sam Altman, the brain behind ChatGPT, argues the tech industry's "reflexive anti-regulation stance" needs reconsideration, particularly for powerful AI systems.
Why It Matters: Altman's view contrasts with the prevalent tech industry sentiment against regulation. He advocates for regulatory oversight for AI models with capabilities magnitudes beyond GPT-4, essentially models as "smart as human civilization."
Between The Lines: While Altman isn't concerned about government over-regulation, he acknowledges it's a possibility. He cites the aviation industry as a case where regulation has played a positive role in ensuring safety.
Source: Associated Press
So What?: Regulatory Capture
Regulatory capture occurs when a regulatory agency, created to act in the public interest, becomes dominated by the very industry it's supposed to regulate.
Over time, the agency acts in ways that benefit the industry at the expense of the public.
This is seen often in bigger industries such as food, pharmaceuticals and oil.
Now What?: A Value Framework
The Big Picture: As countries like the UK, US, China, and the EU gear up for discussions on AI regulation, Altman's comments could signal a changing tide in the industry's view on governmental oversight. The UK is set to host a global AI safety summit at Bletchley Park in November.
What's Next: Experts and policymakers are racing to frame AI laws that can adapt to rapidly evolving technologies. Altman's pro-regulation stance could influence the regulatory landscape.
The Regulatory Capture Framework Playbook 101:
Create an average to good product or service
Sell to customers
Employ Lobbyists to explain your product or service to government officials
Lobby for minor obscure changes to the law that inhibit competition
Ask for a regulatory body to oversee and regulate your market
Employ ex-regulators in your company
Ask to be involved in writing new regulatory rules
Raise prices
Takeaway:
As mentioned in previous posts - Ai is just a prediction machine, NOT a judgement or decision machine.
Therefore to regulate Ai is like regulating statistics!
But let’s hand it to Open Ai. Don’t hate the player, hate the game!
Ps. If you have any great frameworks you’ve created or seen that you want featured in this newsletter, please shoot them over.
Bye.
Only Frameworks