On August 8, the APEC Business Council held a Briefing on Artificial Intelligence (AI)

On August 8, Irina Gorbulina, the Representative of the FBA EAC in Australia and New Zealand, took part in the briefing of the APEC Business Council on Artificial Intelligence (AI).
The briefing was organized to provide up–to-date information to the leaders of the APEC member economies about the opportunities and challenges associated with the introduction of AI.
The session was devoted to the impact of AI on business in the Asia-Pacific region, international trade and the need to develop regulatory policy. The emphasis was placed on the responsible use of AI.
The reports noted that AI has a huge transformational potential to stimulate innovation, growth and productivity. The international trading system will benefit from improved supply chain and border management.
However, the introduction of AI also creates problems related to the inclusion of marginalized groups, with potential social upheavals, issues of protecting the confidentiality of information, transparency and trust.
It was noted that there is an obvious need for cooperation between the public and private sectors on responsible implementation of AI to create social value for the economies of the APEC countries. This will require the development of best regulatory practices, standards, and policies that will promote the responsible use of AI while minimizing potential harm.
Jurisdictions around the world have begun to develop regulatory approaches to AI. The EU, for example, is in the process of finalizing a law on Artificial Intelligence. APEC economies also need to act quickly to avoid the risk of possible fragmentation of regulation.
The briefing was attended by:
Michaela Browning, Vice President, Government and Public Policy, Asia Pacific, Google
Jan De Silva,President and CEO of the Toronto Regional Board of Trade
Eunice Huang ,Head of Asia Pacific Trade & Competitiveness Policy, Google
Rita Arrigo,Strategic Engagement Manager, National AI Centre, CSIRO