Regulation concerning the development and use of AI in healthcare and other sectors is critically important, but striking the right balance between oversight and flexibility is also incredibly complicated.

So says Asheesh Mehra, co-founder and CEO of AntWorks, an AI and robotics developer, in a recent commentary at TheNextWeb.

One problem, he says after noting the World Economic Forum’s recently declared intention to develop global rules for AI while also creating an AI Council, is that “the technology is constantly evolving, so these regulations are quickly becoming obsolete. This means that AI will never truly be regulated unless steps are taken to make sure that any iteration of it is covered.”

As Mehra sees it, the fundamental fact is AI is going to be continuing down two tracks simultaneously.  On the one hand, AI will continue to make drastic improvements and advancements across many sectors, including in healthcare.  

On the other hand, however, AI bias, accelerated hacking, and AI terrorism are going to be constant concerns as the technology spreads. “This is where big challenges await both government institutions and legal organizations as they tackle the larger issues that can arise from misuse of the technology,” Mehra says.

The key to successfully navigating these two tracks, he argues, is to regulate the applications themselves, not the overall technology.

Specifically, “in order to properly regulate (AI), governments and policymakers will need to work closely with professional bodies from each industry which can advise the decision makers on policy and regulation on best practice with regard to: what the technology is needed for, how they’ll make it work, how it may impact their workforce, whether their workforce will need retraining, and what support they need from the government to ensure a smooth transition into an AI-based business. 

“Companies should be optimistic that the decision makers at the policy level will listen to their concerns and regulate the applications effectively, rather than narrowing usage by imposing a ‘blanket’ regulation on the whole technology.”

In short, Mehra says, the best way for AI and automation to fulfill their promise is by stakeholders advocating for smart regulation than allows the technology to thrive while maximizing the use and effectiveness of specific applications, both in healthcare and other sectors of the economy.