Artificial Intelligence (AI), the new frontier of technology is at the heart of the transatlantic tech debate. The European Union (EU) continues to pass regulation, such as the AI Act, but is falling behind in producing tech companies that can compete against the multitude of organizations in the US or China. However, even though the EU has gotten the ball rolling on regulations, panelists believe that the debate around AI risk management is not being completed correctly.

The first issue that panelists explored was how the term AI is misleading and promotes and vision of science-fiction into real debates. They confirmed that the "AI" that we see today could never develop to or beyond the point of human consciousness. It was not possible for "AIs" to becoming to self-modifying that it becomes a runaway process where they overtake the human mind. Instead, the experts expect policy makers and other experts to use their preferred term of Advanced Computational Statistics (ACS). This term highlights that these technologies are merely using advanced statistics to provide users with answers to their queries and not having in-depth thought into the responses that they provide. With a clearer understanding that the science-fiction tropes are not possible, they expect policy makers to make stronger and more comprehensible policies to regulate these evolving technologies.

Returning to the transatlantic relationship, the panelists saw three main issues moving forward. First, competition between the US and Europe is fierce. At the moment there is a wide variety of start-ups trying to make their claim and lead the industry in AI technology. However, companies like Alphabet Inc. (Google) or Meta are starting to buy up new companies leading to the real possibility an AI monopoly. Therefore, both the US and Europe need enforce anti-trust laws and promote independence amongst the smaller companies.

The second issue is the regulatory arbitrage that Europe is facing. Although Europe is a leader in technological regulation, they are stifling innovation within the EU. This has led to more companies and individuals moving to the less regulated system in the US. With everyone going to the US, it then means that all the EU regulations are actually regulating no one.

Lastly, panelists recognized that AI is not done growing. This technology is quickly evolving and there is no sign of a slowdown. What we think AI is capable today could be completely different tomorrow. Therefore, AI regulation at this point is nearly impossible to establish. Policy makers can create regulations on what AI can currently do, but a year down the line when the capabilities of AI evolve then that regulation will be outdated.

Going forward, panelists suggested deeper talks and agreements between the US and Europe to help promote more competition and regulation throughout the transatlantic relationship. Although the future of AI isn't completely known, it can be better managed through a transatlantic cooperation.

Organized by The Johns Hopkins School of Advanced International Studies (SAIS), in partnership with the IE School of Politics, Economics and Global Affairs (SPEGA), Yale Jackson School of Global Affairs, and PSIA Sciences Po.