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date: 26 June 2022

Abstract and Keywords

This chapter evaluates the incompatible incentives of private-sector AI. Private-sector investment in AI is dominated by major internet platform companies such as Facebook, Amazon, Apple, Google, and Microsoft. These platform companies are also leaders in deploying deep learning algorithms. Although deep learning algorithms may be more intelligent than previous generations of machine learning, they are not more robust. There may be a faint technical path forward for problems of bias and unfairness, but algorithms are engines, and pervasive incompatible incentives will remain. As such, algorithms require guardrails. However, technology companies are ill-suited and ill-positioned to design or implement these value-based rules. Guardrails become constraints on people’s behavior, and yet, in cases of high elasticity, effective governance may still be elusive. Ultimately, the pairing of the algorithm and guardrails tempts companies to engage in regulatory arbitrage, providing a requirement for external action.

Keywords: private sector AI, internet platform companies, deep learning algorithms, machine learning, technology companies, regulatory arbitrage, AI governance

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