Public policy must regulate algorithms and AI to avoid adverse impact on society | The Indian Express

Public policy must regulate algorithms and AI to avoid adverse impact on society | The Indian Express

Written by Simrit Kaur, Kamaldeep Kaur Sarna |Updated: June 7, 2019 7:35:35 am

Kaur is principal, Shri Ram College of Commerce and professor of economics and public policy, University of Delhi.

Sarna is assistant professor, department of commerce, Shri Ram College of Commerce

Public policy must regulate algorithms and AI to avoid adverse impact on society

A rethink of public policy is absolutely essential if non-desirable impacts of artificial intelligence on human race are to be arrested.

Even high-profile programmers/developers may not be able to trace the working of such algorithms making nearly impossible the identification of any anti-competitive practice. (Representational image; source: Pixabay/geralt)

Businesses are increasingly utilising algorithms to improve their pricing models, enhance customer experience and optimise business processes. Governments are employing algorithms to detect crime and determine fines. Consumers are benefitting from personalised services and lower prices. However, algorithms have also raised concerns such as collusions and malfunctioning, privacy, competition issues, and information asymmetry.