Showing posts with the label economic

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The Great Chip Caper: A Tale of Tech, Trade, and Treachery

Imagine you're trying to build a top-secret superweapon. You need the most powerful components available, but you're under strict sanctions. What do you do? You sneak around, you lie, you cheat, and you try to get your hands on whatever you can. "This component is essential to our project. I need you to replicate it, regardless of the cost." That's basically what Huawei, the Chinese tech giant, has been doing. They've been trying to get their hands on advanced chips that they can use to build their AI systems. And they've been doing it in secret, using all sorts of sneaky tricks. One of the tricks they've been using is to get other companies to make the chips for them. They've been approaching companies like TSMC, a Taiwanese chipmaker, and asking them to produce chips that are similar to the ones they're not allowed to make themselves. It's like trying to build a Ferrari by asking a Honda dealership to make you a car that looks like a F...

EU Adopts OECD Definition for AI in AI Act

Artificial Intelligence (AI) has been the subject of intense debate and scrutiny over the past few years. The European Union (EU) has recognized the need for legislation to regulate AI to ensure that it does not cause harm to individuals or society as a whole. The EU's AI Act is a legislative proposal that seeks to regulate AI based on its capacity to cause harm. One of the most politically sensitive parts of the file is the definition of AI, which will define the scope of the EU's AI rulebook. EU Adopts OECD Definition for AI in AI Act On March 3, 2023, representatives of the European Parliament's political groups working on the AI Act reached a political agreement on the definition of AI. The EU Parliament agreed to adopt the definition used by the Organisation for Economic Cooperation and Development (OECD). The definition states that "Artificial intelligence system (AI system) means a machine-based system that is designed to operate with varying levels of au...

The US Chamber of Commerce: Regulation of artificial intelligence (AI) technology

The US Chamber of Commerce's recent call for regulation of artificial intelligence (AI) technology marks a significant shift in stance for the country's largest lobbying group. While the Chamber has traditionally been anti-regulatory, it is now expressing concerns about the impact of AI on national security and business growth. U.S. Chamber of Commerce   The Chamber's report states that AI technology is increasingly being used by all important actors in the economy and society, domestically and globally. By the end of the decade, AI is projected to increase global economic growth by $13 trillion. The report acknowledges the positive impact of AI on healthcare, emergency management, financial inclusion, and job creation, but also highlights concerns about the impact of AI on workers and the need for policies to ensure responsible and ethical deployment of AI. The report also notes the efforts of America's com...