Soft law as a complement to AI regulation

Corporate leaders including Google CEO Sundar Pichai, Microsoft President Brad Smith, Tesla and SpaceX CEO Elon Musk, and IBM ex-CEO Ginni Rometty have called for increased regulation of artificial intelligence. So have politicians on the both sides of the aisle, as have respected scholars at academic research institutes and think tanks. At the root of the call to action is the understanding that, for all of its many benefits, AI also presents many risks. Concerns include biased algorithms, privacy violations, and the potential for injuries attributable to defective autonomous vehicle software. With the increasing adoption of AI-based solutions in areas such as criminal justice, health care, robotics, financial services, and education, there will be incentives that conflict corporate interests with societal benefits.