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Regulators are concerned about AI’s lack of understanding of the art form it replicates



'AI not understanding the art form it replicates, a key concern for regulators'

At the Mint India Investment Summit 2024, Chaitanya Chinchlikar, vice president and chief technology officer of Whistling Woods, raised concerns about the legal uncertainties surrounding AI-generated content. Chinchlikar highlighted that AI does not acknowledge the origins of the images it uses to create new works, leading to complications in copyright claims. This issue has resulted in numerous lawsuits, according to Chinchlikar.

During a panel discussion titled “Changing Narratives: Can AI Boost Topline?”, experts discussed the evolving role of AI and generative AI across various sectors. Chinchlikar explained that the ownership ambiguity of creations made using AI prevents individuals from being sued for intellectual property infringement. He emphasized that this ambiguity hinders the creation of monetizable, merchandisable intellectual property using generative AI.

Furthermore, Chinchlikar noted the longstanding presence of AI in the media and entertainment industry, comparing it to traditional technologies like green screens. He also discussed the inflated hype surrounding GenAI, stating that it is a “solution looking for a problem” and that the hype is likely to decrease over time.

Harshjit Sethi, managing director of venture capital firm Peak XV, stressed the importance of thoughtfully integrating AI into existing products. He questioned whether companies are leveraging AI to solve problems uniquely or simply adding a thin layer of AI on top of existing processes. Sethi encouraged companies to use AI to solve problems differently for more impactful results.

Overall, the panelists agreed that AI, particularly GenAI, is becoming increasingly prevalent across industries. However, they highlighted the need for responsible and strategic use of AI to maximize its benefits. As AI continues to shape various sectors, the importance of understanding its applications and implications becomes crucial for organizations and regulators alike.

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