ARTIFICIAL INTELLIGENCE’S GROWING DOMINANCE

New Zealand must move now to ensure it can manage all the risks Artificial Intelligence may present, but also capitalise on the opportunities.

And Artificial Intelligence (AI) is expected to be smarter than humans within 24 years, so it’s critical New Zealand acts now, says the Institute of Directors (IoD) and Chapman Tripp who are calling on the government to take the lead.

The IoD and Chapman Tripp have developed a call to action paper highlighting the risks, opportunities and challenges AI presents. The paper calls on the government to establish a high-level working group to help New Zealand deal with AI, IoD chief executive Simon Arcus says, in a media release.

“AI is an extraordinary challenge for our future. Government and business leaders need to work together to promote greater development of AI technologies to ensure there is a coordinated approach to prepare for the impact AI will have on work, education and welfare. This requires big-picture thinking, long-term vision and appropriate oversight.”

A recent international survey suggests 50 percent of respondents believe AI will be smarter than humans within the next 24 years, with 90 percent believing it will be within 60 years. The Future of Life Institute says significant parts of the world’s economy including finance, insurance, actuarial and many consumer markets could be susceptible to disruption through the use of AI technologies that learn, model and predict human and market behaviours. This has led to many voicing concerns over safety, and the risk of losing control.

As AI systems become more interconnected in our daily lives and are used more in critical infrastructure, they will become an increasing target for cyber-attacks.

The IoD and Chapman Tripp say New Zealand must move now to ensure it can manage all the risks AI may present, but also capitalise on the opportunities.

“A working group with experts from science, business, law, ethics, society and government, should be tasked with considering the possible impacts, identifying areas of opportunity and concern and making recommendations on how New Zealand should prepare for AI-driven change,” Chapman Tripp partner Bruce McClintock says. “New Zealanders need to be prepared for the human resource implications of AI.”

“While the impact of AI on the New Zealand economy is unquantifiable,” says Arcus. “Many sectors should be investing more in AI technologies to make the most of their full potential. Establishing a government led highlevel working group is critical in helping New Zealand rise to that challenge.”