Tech Giants Evade Regulation Despite AI's Risks, Echoing the Unchecked Power of the British East India Company
• Tech giants like Google and Facebook have amassed unprecedented economic and political power, evading regulation like the British East India Company once did • AI systems pose risks like supercharged propaganda and loss of human control, requiring government regulation to protect citizens • Politicians embrace AI's potential but yield to tech giants, paying lip service rather than enacting meaningful oversight • The current AI governance regime is one of industry self-regulation with a governmental stamp of approval • Without proper regulation, AI is likely to intensify inequality and corporate power rather than improve people's lives