AI Regulation Should Be Principles-based - Matthew Martin

Eleanor Sa-Carneiro

Leveraging his expertise, Matthew Martin offered insights about the cybersecurity and AI start-up world, and spoke to Qonversations about how legislation on ai, while necessary, has to strike a balance to not hinder innovation.

Mr. Martin believes that technology and artificial intelligence, particularly in the field of cybersecurity, can positively affect markets. Acknowledging that the most advanced markets are largely found among the US and Europe, regulation on artificial intelligence is also most advanced in those markets.

“I personally think the principles are the better way to do the regulations, because if you get overly prescriptive, tech changes too fast, you can’t keep up with it”, Martin tells The Qonversation.

In light of how quickly things have changed since ChatGPT first came to market one year ago, Martin explains that the regulation should be principle-based as the current attempts at legislation might be obsolete by the time they come into effect, “the EU AI Acts wouldn’t even come into play until 2026“.

Although governments the world over seek advice from the private sector and big tech to know how best to regulate, while Martin concedes that we will have to ” see how that plays out”, contrary to the EU’s approach, “The U.S. and U.K. approach of principles-based would be the winner and the right way to do it”.

However, as the usage of artificial intelligence increases, he considers that there are great prospects for businesses that strive to protect and govern AI technologies. The ever-changing cyberspace of security, breaches and intricacies of artificial intelligence regulations provide a vibrant platform for startups to explore. The opportunities that a very new artificial intelligence market presents “specific startups around security and governance of the market is boundless at the moment”.

Opportunities are abound in developing or high-growth markets, notably in Africa and Southeast Asia that had been largely unattended and thus, would be in the most need of an upgrade, Martin suggests.