Artificial Intelligence (AI) as a tool to attract investment, and related regulatory concerns
Nikolaos Theodorakis
Law Faculty - Law Faculty - University of Oxford
Abstract
Artificial Intelligence has several applications in sectors ranging from healthcare to insurance and financing. The unfathomable potential of big data is exponentially relevant in everyday corporate decision making, be it in a bank loan interest rate, an MRI scan preliminary analysis, or an insurance premium. Artificial Intelligence allows companies to monetize their data, be efficient, and make informed decisions. However, Artificial Intelligence comes with certain caveats. First, unsupervised machine learning can lead to black box paradoxes, where it is impossible to attribute liability and control for potential computer biases. Datasets are practically never truly anonymous, since machine learning allows the association of data points in a way that individuals can almost always be re-identified. Data are kept forever, whereas it is very difficult to actually grant an access right that an individual may wish to invoke. The above have led to an interesting debate that revolves around ethics, philosophy, law and technology. The paper will explore how Artificial Intelligence has shaped modern technology (also with machine learning and deep learning features), what are the main pros and cons also in relation to international development and investment initiatives, and how different countries approach this matter from a regulatory standpoint.
Keywords
Artificial Intelligence; Technology law; Big Data
