I'd challenge the aim of getting more resource in from the tech sector to guide regulation of AI. As we have seen with both the tech sector (and the finance sector that backs them in fintech), they tend to have a libertarian hostility to regulation combined with a disinterest in the wider social impacts of technology, especially AI. The major tech cos with their monopoly positions and 'kill in the crib' acquisition strategies are a particular problem.
Hi Robin! Regulatory capture is definitely an issue. As things stand, startups in particular don't really get a hearing in policymaking (look at today's AI summit - it's Big Tech, with some of those leading it explicitly saying "it's not for you, startups"). If tech does input, it's Big Tech. So finding ways to address that is important. Regulators really need more funding from central government, to be resourced to deal with innovation properly. But if some funding comes from those being regulated (as in financial services) we don't think this necessarily means those being levied get more of a say in regulation. The FCA has become anti-innovation, but I don't think this is because its funding comes from large financial services firms - there are other factors at play.
Good afternoon Leo!
I'd challenge the aim of getting more resource in from the tech sector to guide regulation of AI. As we have seen with both the tech sector (and the finance sector that backs them in fintech), they tend to have a libertarian hostility to regulation combined with a disinterest in the wider social impacts of technology, especially AI. The major tech cos with their monopoly positions and 'kill in the crib' acquisition strategies are a particular problem.
Hi Robin! Regulatory capture is definitely an issue. As things stand, startups in particular don't really get a hearing in policymaking (look at today's AI summit - it's Big Tech, with some of those leading it explicitly saying "it's not for you, startups"). If tech does input, it's Big Tech. So finding ways to address that is important. Regulators really need more funding from central government, to be resourced to deal with innovation properly. But if some funding comes from those being regulated (as in financial services) we don't think this necessarily means those being levied get more of a say in regulation. The FCA has become anti-innovation, but I don't think this is because its funding comes from large financial services firms - there are other factors at play.