Navigating the AI Dilemma: Striking a balance between regulation and innovation is crucial for artificial intelligence (AI). NASSCOM proposes a three-tiered approach—industry self-regulation, national oversight, and global harmonization. This strategy emphasizes stress-testing existing legal frameworks, updating laws, and prioritizing high-risk AI applications. The focus is on adaptability to emerging challenges, fostering global cohesion, and enhancing technical expertise within regulatory bodies through training programs. The regulatory sandbox approach allows for real-world testing, ensuring agility in response to the evolving AI landscape. In under 150 words, the key takeaway is the nuanced strategy proposed by NASSCOM, navigating the intricate terrain of AI responsibly, prioritizing adaptability, global collaboration, and technical prowess.
