Malaysia’s initiative to establish artificial intelligence (AI) governance and an AI code of ethics is expected to be ready this year, according to industry officials.
A collaboration showing this heightened interest involves YTL Power International Bhd. and US-based Nvidia Corp. They are joining forces to develop AI infrastructure, bringing the fastest supercomputers to Malaysia by mid-2024. This announcement was made during a meeting between Nvidia CEO Jensen Huang and Prime Minister Datuk Seri Anwar Ibrahim.
What is the AI Code of Ethics? It involves the development of policies and laws to promote and regulate AI, ensuring safe, ethical, and responsible use of the technology. According to Chang, this process takes time and cannot be rushed.
What are the criteria in AI regulation? Data privacy, fairness, and accountability are key criteria in AI regulation. The National Tech Association of Malaysia (PIKOM) CEO, Ong Kian Yew, emphasizes that the regulatory intervention should be proportionate to potential harm, allowing flexibility and avoiding unnecessary burdens on low-risk applications. While countries like the US, the UK, and the European Union are working on AI regulations, concerns arise about potential hindrances to technology innovation. However, industry stakeholders argue that regulations can serve as catalysts for innovation by fostering a conducive environment, mitigating risks, and ensuring ethical AI utilization.
How will it impact businesses? The AI regulations’ impact on businesses will vary based on industry and application. Businesses may need to invest in resources and expertise to comply with new regulations. This includes developing broad AI governance frameworks and implementing transparency and accountability measures.
Stakeholders, including industry players and policymakers, need to play a part in shaping AI code of ethics through regulation and collaboration. This ensures a balanced approach to AI regulation, for both innovation and compliance. For example, engagement sessions with standardization bodies can help businesses develop international AI standards and regulatory frameworks.
Compliance with regulations will not only increase trust and customer confidence but also reduce the risk of legal challenges associated with unfair or biased AI systems. Engaging the public in discussions and consultations is crucial to raising awareness about AI’s potential benefits and risks, shaping public perceptions, and informing regulatory decisions.
—The Star
