The Risks of a Privatized AI Sector

I have recently been following the rapid commercialization of AI and the significant debate among policymakers, technologists, and the public that has ensued. At the heart of this lies a critical issue, that the increasing control of AI development and deployment by private corporations, often happens at the expense of public interest and oversight, is highly problematic.
AI has become a highly lucrative field, but it is also one that is becoming increasingly ring-fenced. Only those with substantial financial resources, in the billions, can afford to enter this arena, effectively privatizing the gains and profits derived from AI technologies. Exclusivity, this is further exacerbated by the fact that many AI models and engines are built using governmental/public research and data, raising ethical questions about the fairness and equity of AI advancements.

As a global trade strategist and principal technology advisor to institutes like the WTO and the UN, I have seen that tech companies traditionally argue against stringent regulations, claiming that such measures would stifle innovation. They now emphasize the potential benefits of AI, such as diagnosing diseases, accelerating scientific research, and boosting productivity. However, this narrative often overlooks the broader implications of unchecked AI development. By limiting governance, these companies aim to maintain control over AI technologies, ensuring that the profits remain privatized while the risks and ethical concerns are shared by everybody.

Historically, significant technological advancements, such as the Internet and satellite technology, were developed with substantial government investment and were made widely available for public benefit. In contrast, the current trend in AI development sees private firms capitalizing on publicly funded research and data, reaping the financial rewards without reinvesting for the public good. This shift represents a departure from the principles of shared progress and public benefit that characterized earlier technological revolutions and seems to be setting a dangerous precedent.

Once in the hands of the AI industry, private companies often seek to monopolize scientific knowledge, by securing patents and leveraging trade secrecy laws to protect their innovations, effectively creating barriers to entry. This monopolistic behavior stifles competition and innovation, concentrating power and knowledge in the hands of a few corporations. Without the foundational research and legal protections provided by public entities, these companies would struggle to achieve their current dominance.

The argument that markets perform best without government interference and regulation is not new. As the Chair of the Consortium for Sustainable Urbanization, I have seen this argument being used by the oil and gas industry to deny the risks of climate change, even when their own research indicates otherwise. The same logic is now being applied to AI, with potentially dangerous consequences. Unchecked AI development in the hands of private tech firms could lead to significant societal harms, including the pushing of political agendas and ideas of their founders, which can sway public opinion and seriously threaten democracy.

As an advocate of democratizing technology and reducing the digital divide, I find that unregulated AI development driven primarily by private interests poses significant risks to public welfare. It is crucial for policymakers to recognize the importance of robust governance and regulation to ensure that AI technologies are developed and deployed in ways that benefit society and not just line the pockets of tech giants. Perhaps there should be a new tax imposed on such firms to help bring back some of their riches into the public domain.
By reclaiming control over AI from private corporations, we must work towards a future where technological advancements serve the public good rather than just generate profit for private firms.