- Countries around the world are racing to define their own strategies for the development of AI technology.
- The CEO of VC firm General Catalyst told the WSJ that international cooperation will be crucial.
- He said world leaders must “adhere to some basic protocols” for AI development.
As countries around the world vie for dominance in the AI arms race, some investors believe it’s time for the global community to get on the same page about where artificial intelligence is headed.
A Silicon Valley venture capitalist – whose firm has backed tech giants such as Snap and Stripe – says that imposing a spirit of “depth” and “collaboration” across borders is key.
Several countries are eager for a piece of the pie, Hemant Taneja, CEO and managing director of VC firm General Catalyst, told The Wall Street Journal during the publication’s CIO Network Summit this month.
“Each country has its own vision,” the CEO said, adding that the world’s patchwork goals for tech meant we needed a “cooperation model” that involved all countries. Taneja — whose firm has backed other brands, including diabetes care company Livongo — is working with other VC firms, AI companies, and the US Commerce Department to develop guidelines for new AI tech. .
“Now there’s this tension where no country wants to be left behind. France wants its strategy. India wants its strategy. And they want their cultural nuances implemented in the way that AI thinks, Taneja continued. “When you think about that dynamic, there’s a risk that we’ll become siloed, which is the opposite of how we’re building the Internet. So we need to think about a collaboration model. , we should think about a common framework around building infrastructure that actually accelerates growth, but in a responsible way.”
More AI laws are coming globally.
Taneja’s comments to the journal come at a time when governments around the world are scrambling to better regulate AI — a rapidly evolving space that no one knows how to manage. But getting it right will be critical: AI could contribute up to $15.7 trillion to the global economy by 2030, according to a PwC analysis.
The European Union is set to sign a law called the AI Act, which will set different standards for AI based on how dangerous its use might be. For example, stricter rules will be enforced for companies that are using AI and for law enforcement agencies. The law could be approved when the European Parliament votes on it in April and will come into effect in 2026.
China, for its part, has already approved more than 40 AI models, which the government requires to “uphold core socialist values”. However, experts have warned that the country may struggle to compete globally following US restrictions on some of the technical components needed to build and train AI.
While AI powerhouses like OpenAI have put the U.S. at the forefront of AI innovation, the country sits squarely in the middle on regulation. President Joe Biden signed an executive order in October that directs various agencies to develop AI standards and gives the US government some oversight over major AI developments. But it remains unclear how enforceable or widespread the regulations will be.
So far, Russia lags behind China and the US in AI development. Russian President Vladimir Putin said in November that the country was planning an ambitious counter-strategy to AI development to prevent Western countries from dominating AI innovation.
In his remarks to the journal, Taneja suggested that world leaders should “align on some basic protocols” for AI development, but suggested that “we shouldn’t regulate AI too soon,” he added. That we don’t yet fully understand the technology’s potential.
He said that it is difficult because every country has its own view. “You also have this other dynamic where you don’t want the price to just go to the big companies. You want a level playing field for innovation.”