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Artificial intelligence needs to be regulated, says new Google CEO

EPA/BORIS ROESSLER
A file picture dated 21 October 2004 shows a man passing by a Google logo in Frankfurt, Germany. Alphabet, the parent company of internet giant Google, surpassed Apple as the world's most valuable company 01 February 2016, when investors snapped up stock after the company reported fourth-quarter earnings of nearly 5 billion dollars. The net earnings - 4.9 billion dollars to be precise - were an increase from 4.7 billion the year before. Revenue rose 18 per cent year-on-year to 21.3 billion dollars. Daniel Saurenz, an analyst with Feingold Research, said the news beat even the most ambitious expectations. The news sent the company's shares skyrocketing. In after-hours trading, Alphabet shares shot up as much as 8 per cent, boosting the company's market value as high as 570 billion dollars, rivalling Apple's current value of 533 billion.

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Alphabet and Google chief Sundar Pichai called for a global regulation of artificial intelligence at a conference in Brussels.
“There is no question in my mind that artificial intelligence needs to be regulated. The question is how best to approach this”, Pichai said, adding that  “while AI promises enormous benefits for Europe and the world, there are real concerns about the potential negative consequences of AI”.
He expressed his concerns over regulating facial recognition in public places, something the EU Commission has been working on in the form of a white paper. Pichai said that the EU’s General Data Protection Regulation could serve as a basis for AI regulation.
The US recently published guidelines for regulating driverless cars and trucks. However, the EU’s regulation is still light in comparison.
Pichai also stressed the need for tailored implementation in different sectors: “Good regulatory frameworks will consider safety, explainability, fairness and accountability, making sure we develop the right tools in the right ways”, he said.
Pichai recently became a CEO of Google’s parent, the giant Alphabet, after Google’s founders Larry Page and Sergey Brin resigned from their top roles. Last week, Alphabet became one of the four companies so far to reach the impressive $1 trillion market value, together with Apple, Amazon and Microsoft.

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