Maravillas Delgado“Never use a human to do a machine’s job,” said Agent Smith from Matrix when he fought to defend technological dominance against humans. We are not fighting in a parallel reality, but the truth is that machines are part of practically everything we do and develop. The word of 2022 was a concept made up of two: artificial intelligence. This technology, integrated into computer programs, generates content, predictions and recommendations using computer and statistical techniques. The fact that its use provides new functionalities to existing products and processes will possibly mean that, in the near future, artificial intelligence will be so common in our lives that we will take it for granted. “The future is our world, the future is our time,” threatened Smith. In order not to materialize this dark scenario, it is important to understand and enhance the benefits, but also to minimize the risks of artificial intelligence. To do this, it is necessary to legislate and Europe wants to be a pioneer. Brussels has already published a first draft to regulate the use of this technology. Spain, which will take over the presidency of the EU Council in the second quarter of 2023, will have a fundamental role in reaching a consensus on the final text. “There is a big difference between knowing the path and walking the path,” Morfeo explained in Matrix. Regulating a world that does not exist is extremely complex and, therefore, this leadership is a great challenge. An artificial intelligence system has the ability to learn and improve over time. This characteristic is a challenge for regulators who, wrongly, tend to replicate the procedures of the tangible economy in the digital economy. The European draft introduces different obligations to companies depending on their use of the technology. If the fact of incorporating artificial intelligence may entail a violation of the fundamental rights of citizens, for example, its use is prohibited. There are also restrictions in the case of companies that belong to sectors such as education, talent search or medical equipment because, to include it, they must demonstrate that their systems are safe, transparent and precise. However, if an AI system learns and changes over time, when will it need to be retested? Who is responsible for meeting the new requirements, the companies that develop the systems or the companies that use them? These are issues that are not addressed in the proposed legislation. “There are no unanswered questions, only poorly formulated questions,” Morfeo also indicated. Despite its shortcomings, the European regulation on artificial intelligence is clearly revolutionary. Europe will be the first economy to stipulate the procedures to be followed when using this technology. It will be one of the most important laws in the European legislature and will determine the future competitiveness of EU companies. However, the first does not always have an advantage. By imposing an additional cost when developing and using AI systems, the EU risks self-segregating from its largest technological source, the US. According to the OECD, in 2022 venture capital investment in artificial intelligence companies in the US was four times higher than in the EU. Building regulatory bridges that minimise or eliminate the costs of cross-border exchanges is another aspect that new regulations must incorporate. It is not technologically feasible for Europe to develop all the artificial intelligence applications and store all the data that its economy requires to remain competitive. Not remedying this lack in regulation will not only lead to an increase in the cost of artificial intelligence systems imported from outside the EU, but will also harm European companies that are part of the emerging value chain dedicated to the development of this technology. “I can only show you the door, you are the one who has to go through it,” Morpheus told Neo, the protagonist of Matrix. Artificial intelligence systems are sophisticated services, where companies from various countries exchange ideas, services, technology and data to produce them. That is why maintaining an economy open to these exchanges is a necessary requirement for the EU and its companies to be part of and benefit from this process. Rules governing the development and use of artificial intelligence in Europe must address the risks, but also be sensitive to the changing and intangible nature of the technology they are intended to regulate. If we succeed, Europe will not have to choose between the blue pill or the red pill in the future of its technological growth. Óscar Guinea is an economist at the European Centre for International Political Economy (ECIPE). On Twitter: @osguinea. Isabel Pérez del Puerto is a journalist.
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