A recent survey conducted by TCS, encompassing 1,300 leaders from companies with revenue exceeding USD 1 billion each, emphasized the pressing need for a unified global approach to regulating artificial intelligence. The survey participants expressed a strong consensus in favor of establishing ethical AI guidelines that govern the responsible deployment of AI technologies, particularly recognizing its consequential effects on crucial socio-economic domains like healthcare and finance.
Interestingly, the survey findings revealed that only a mere 4% of respondents felt that it was premature or unnecessary to regulate AI, signaling a prevailing sentiment among industry leaders towards the necessity of global standards. In contrast, 14% of participants indicated a preference for a diverse landscape of localized regulations, highlighting the nuanced perspectives on the regulatory framework surrounding AI. The discussions around regulating AI have gained momentum over the years as the technology's ubiquitous presence in various aspects of human life has become more pronounced, notably following the emergence of advanced generative AI tools.