Self-regulation Versus Government Regulation

The progress and incorporation of artificial intelligence (AI) into different facets of society require efficient governance frameworks to ensure ethical, secure, and accountable utilization. There are two main methods of AI governance: self-regulation and government regulation. Self-regulation encompasses industry-driven efforts, standards, and optimal methodologies created by AI developers and organizations to foster adaptability and ingenuity. Government regulation includes implementing official legislative actions and supervising public authorities. This ensures that the regulations are enforceable and accountable and safeguard the public interests. This chapter examines the advantages and constraints of self-regulation and government regulation in the governance of AI, emphasizing the significance of striking a balance between the two methods to provide a comprehensive and flexible governance framework. An equitable strategy can promote creativity while ensuring AI technologies conform to social norms, ethical standards, and legal obligations.