Breaking down the AI regulations

Companies, governments, and other institutions started embedding artificial intelligence into their products, services, processes, and decision-making to a great extent. This opened great questions on how the data is used by their systems and if any, what are the implications. The answers become even more serious if we take the complex, evolving algorithms that propose health diagnosis, approve a loan, or even autonomously drive a car. Now more than ever, it is essential to develop AI tools that can be trusted and are responsible as AI has and will have wide-ranging economic impacts across manufacturing, transportation, health, education, and many other sectors. This can be done by the development of public sector policies and laws for promoting and regulating AI. It is quite a recent topic among regulators globally as between 2016 and 2020 a wave of AI regulations and guidelines were published in order to maintain social control over the use of algorithms in our everyday lives.