One issue, esp in the US, is the shift in the 1970s as to the purpose of companies. Once it was to produce quality services and products at good prices, pay fair wages, and reinvest back into the companies to stay competitive. After Milton Friedman et al, a company's purpose was reduced to maximizing profit only - and at any cost (quality, employees, customers, and even the company itself no longer mattered). We shifted from an economic model of investment to one of extraction. Social media grew up in this extractive environment. Unless we shift back to an investment economic model, AI will continue to be founded on extracting value - no amount of ethics (which is based on shared values) will make much of a difference.
One issue, esp in the US, is the shift in the 1970s as to the purpose of companies.
Once it was to produce quality services and products at good prices, pay fair wages, and reinvest back into the companies to stay competitive.
After Milton Friedman et al, a company's purpose was reduced to maximizing profit only - and at any cost (quality, employees, customers, and even the company itself no longer mattered).
We shifted from an economic model of investment to one of extraction.
Social media grew up in this extractive environment.
Unless we shift back to an investment economic model, AI will continue to be founded on extracting value - no amount of ethics (which is based on shared values) will make much of a difference.
is there a link to the paper?
great talk on cons of ai ethics as used in current form
The EU AI Act does have consequences such as fines.