The Dilemma of Rapid AI Advancements: Striking a Balance between Innovation and Regulation by Pursuing Risk-Aware Value Creation

Author:

Ricciardi Celsi Lorenzo1ORCID

Affiliation:

1. Dipartimento di Ingegneria Informatica, Automatica e Gestionale “Antonio Ruberti”, Sapienza Università di Roma, via Ariosto 25, 00158 Roma, Italy

Abstract

This paper proposes the concept of risk-aware actual value as a pivotal metric for evaluating the viability and desirability of AI projects and services in accordance with the AI Act. The framework establishes a direct correlation between the level of risk associated with a product or service and the resulting actual value generated. The AI Act reflects a concerted effort to harness the potential of AI while mitigating risks. The risk-based approach aligns regulatory measures with the specific attributes and potential hazards of distinct AI applications. As trilogue negotiations continue, the regulatory approach of the EU is evolving, highlighting its commitment to responsible and forward-thinking AI governance. Through a dedicated analysis of the AI Act, it becomes evident that products or services categorized as high-risk carry substantial compliance obligations, consequently diminishing their potential value. This underscores the imperative of exercising caution when engaging in projects with elevated risk profiles. Conversely, products or services characterized by lower risk levels are poised to accrue more substantial benefits from their AI and data potential, highlighting the incentive for a discerning approach to risk assessment. Methodologically, we propose an extension of an integrated AI risk management framework that is already existing in the literature, combining it with existing frameworks for measuring value creation from harnessing AI potential. Additionally, we contribute to the applied field of AI by implementing the proposed risk framework across nine industry-relevant use cases. In summation, this paper furnishes a comprehensive approach to achieving equilibrium between innovation and regulation in the realm of AI projects and services. By employing the risk-aware actual value metric, stakeholders are empowered to make informed decisions that prioritize safety and maximize the potential benefits of AI initiatives. This framework may stand as a reference point in this time when fostering responsible and sustainable AI development within the industry becomes of paramount importance.

Publisher

MDPI AG

Subject

Information Systems

Reference34 articles.

1. GPT-3: Its nature, scope, limits, and consequences;Floridi;Minds Mach.,2020

2. Chiriatti, M. (2021). Incoscienza Artificiale, Luiss University Press.

3. Benanti, P. (2019). Le Macchine Sapienti: Intelligenze Artificiali e Decisioni Umane, Marietti.

4. Scardigli, F. (2022). Artificial Intelligence vs. Natural Intelligence, Springer International Publishing.

5. The AI Apocalypse Matrix;Strickland;IEEE Spectr.,2023

Cited by 1 articles. 订阅此论文施引文献 订阅此论文施引文献,注册后可以免费订阅5篇论文的施引文献,订阅后可以查看论文全部施引文献

1. Innovations in Healthcare;Advances in Medical Technologies and Clinical Practice;2024-06-14

同舟云学术

1.学者识别学者识别

2.学术分析学术分析

3.人才评估人才评估

"同舟云学术"是以全球学者为主线,采集、加工和组织学术论文而形成的新型学术文献查询和分析系统,可以对全球学者进行文献检索和人才价值评估。用户可以通过关注某些学科领域的顶尖人物而持续追踪该领域的学科进展和研究前沿。经过近期的数据扩容,当前同舟云学术共收录了国内外主流学术期刊6万余种,收集的期刊论文及会议论文总量共计约1.5亿篇,并以每天添加12000余篇中外论文的速度递增。我们也可以为用户提供个性化、定制化的学者数据。欢迎来电咨询!咨询电话:010-8811{复制后删除}0370

www.globalauthorid.com

TOP

Copyright © 2019-2024 北京同舟云网络信息技术有限公司
京公网安备11010802033243号  京ICP备18003416号-3