AI | Oct 2, 2023
Federal Minister François-Philippe Champagne launches voluntary code of conduct for advanced generative AI systems but some are wondering if this a step forward will hinder innovation?
On September 27, Minister Champagne announced Canada’s Voluntary Code of Conduct on the Responsible Development and Management of Advanced Generative AI Systems, effective immediately. The new code of conduct revolves around several key principles around transparency, bias, oversight and detectability.
- AI systems must be clear about where and how the information they collect is used.
- There should be methods in place to tackle potential biases within the system.
- Human monitoring of AI systems is essential.
- Developers creating generative AI for public use must ensure that any content produced by their system can be identified.
Minister Champagne emphasized the urgency of implementing measures to foster trust in AI products.
I think that if you ask people in the street, they want us to take action now to make sure that we have specific measures that companies can take now to build trust in their AI products.
Mixed Reactions
While there’s been significant support from major players in the business sector, concerns have also been raised. Some fear that the code, even in its voluntary form, could stifle innovation and hamper Canadian companies’ ability to compete on a global scale. For instance, Tobi Lütke, CEO of Shopify, expressed his reservations about the code, emphasizing the need for more builders rather than referees in Canada.
See: How Can We Improve Fighting Financial Crime With Artificial Intelligence?
The voluntary nature of the code has led to diverse opinions. While some view it as a precursor to more stringent regulations, others see it as a flexible framework that can adapt to the rapidly evolving AI landscape. As Canada continues to navigate the complexities of AI development and its implications, it remains to be seen how this code will shape the nation’s AI future.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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- Source: https://ncfacanada.org/will-canadas-new-voluntary-ai-code-hinder-innovation/
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