China should take lighter hand with AI to shore up investment, adviser says
- As China looks for new ways to guarantee sustainable economic growth, the digital sector is an attractive option
- But government adviser suggests strict regulation of public data an impediment to innovation, advises ‘quick adjustments along the way’
Beijing should prioritise opening up its public data and loosening regulations on its digital economy – especially as it relates to artificial intelligence (AI) – to boost innovation and private investment, a government economic adviser said.
Chen Changsheng, deputy director at the Development Research Centre of the State Council, said policymakers should adopt a “making small and quick adjustments along the way” approach to regulation as technology is implemented in the market, according to a speech quoted by the public WeChat account of New Economist, a Chinese think tank.
“The development of AI is full of uncertainties. In areas where there is already a certain degree of understanding, we should first let it have its run,” he told an audience of researchers and government officials in science and technology at a seminar in Beijing last week.
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“When it comes to new developments [in tech], it is impossible to only make decisions after there is absolute certainty, because there is no such thing.”
Held in Wuzhen, a water town in East China’s Zhejiang province, the conference has made an “Inclusive and Resilient Digital World Beneficial to All” its theme. Those in attendance are mainly domestic officials and top executives from the country’s internet giants.
Openness is the best way to stir innovation
Chen argued it is important for regulators to let most areas stay as open as possible.