Responsibility for safe and sustainable management of AI

The recent Global Partnership on Artificial Intelligence (GPAI) Summit held in Serbia attracted the attention of many leaders and technology experts. Amidst the rapid advancement of AI technology, discussions at the summit centred around balancing innovation with ethical standards in tech development and the need for international cooperation and experience sharing among nations.

In 2024, the global AI race intensified as technology companies invested billions of USD into AI model development.

In 2024, the global AI race intensified as technology companies invested billions of USD into AI model development. Some technology companies reap fruitful outcomes in their business operations thanks to their strong investments in this potential field.

For example, US chip giant Nvidia reported impressive revenues of 35.1 billion USD in the third quarter of fiscal year 2024, ending on October 27, 2024, driven by increasing demand for AI-related hardware.

This surge in AI interest has prompted governments to expedite regulatory measures to manage this swiftly evolving technology.

The GPAI summit in Belgrade brought together more than 1,000 delegates, aiming to find ways to develop and apply AI responsibly.

Serbian Prime Minister Milos Vucevic emphasised that AI should enhance human dignity and societal progress. He noted that Serbia was the first country in Southeast Europe to adopt an AI development strategy in 2019.

At the summit, OECD Secretary-General Mathias Cormann called for a robust global legal framework to address critical issues such as ethical concerns, labour market disruptions, and environmental impacts.

Forecasts suggest that by 2028, the AI market could reach a valuation of 1 trillion USD.

Over 130 delegates and 1,000 experts from around the world took part in the Global Partnership on Artificial Intelligence (GPAI) Summit

Recognising both the immense potential in fostering socio-economic and scientific development as well as the risks of AI technology, countries and organisations around the world agree on the necessity of cultivating innovation and accelerating the application of AI while also establishing comprehensive legal frameworks and ethical standards for AI governance in a complete and close manner.

Numerous agreements and initiatives have emerged to ensure AI’s safe design and application, notably the Bletchley Declaration, which is seen as a pioneering international commitment to AI management.

Despite receiving broad support from leaders and experts, effective AI governance remains challenging due to the rapid pace of technological advancement outpacing legislative efforts.

There are also debates regarding regulations controlling AI. In September 2024, California Governor Gavin Newsom vetoed a bill that could have imposed stringent standards on basic AI functionalities, arguing it might drive companies away and hinder innovation.

Developing countries face additional barriers, such as limited funding and expertise in AI, complicating efforts to create responsible and safe AI ecosystems.

The difference in understanding and application of countries in compliance with AI's “ethical principles” is also challenging.

Despite these challenges, nations strive to integrate effective AI management into their economic and social development strategies. International conferences like GPAI serve as vital platforms for sharing experiences and advancing progress in this field, aiming for technology to truly benefit humanity.

NDO