Zoho CEO calls on government to prevent monopolies from forming in AI and to assure transparency.
Founder and CEO of Zoho Corporation, Sridhar Vembu, is worried that artificial intelligence (AI) will reduce job opportunities for humans. He also aired concerns over the rise of monopolies controlling AI and urged policymakers to ensure firms are more transparent about their AI products.
“First of all, if AI were to eliminate all jobs, it means AI is able to produce all the goods and services humans need and want without human labor. Where will the jobs come from? In a world where AI makes goods and services free, the better question is what will humans do?” Vembu said in one of the posts in a Twitter thread.
He pointed out that Indians are able to access services such as free digital payments because of platforms like UPI. But that may not apply to AI-based services if a few companies are allowed to control the technology.
“That question really comes down to who owns the magical AI – are there monopolies that extract rent? Indians get practically free digital payments because UPI is a common digital good. That analogy applies to AI well. Public policy has to ensure that no one monopolizes AI,” Vembu added.
Vembu also said that policymakers should “place strict openness requirements” on AI.
“Some providers will threaten to leave India but we must call their bluff. Indians can produce great AI too, subject to our laws,” he added.