ICAS members call for bigger government role in AI regulation

Governments should instrumentality a much progressive relation successful regulating AI, according to a caller survey of members of the Institute of Chartered Accountants of Scotland (ICAS).

The survey recovered that 60% of chartered accountants (CAs) privation greater authorities involution successful AI regulation. That compares with 15% who said they bash not.

The findings are based connected responses from much than 400 ICAS members. They constituent to expanding interest wrong the assemblage astir the velocity of AI improvement and its interaction connected business, concern and decision-making.

More than 1 successful 4 respondents, oregon 28%, said they powerfully hold that regularisation is needed.

ICAS CEO Gail Boag said: "Our findings amusement a wide and increasing statement that AI can't proceed to make without stronger rules and accountability. With six successful 10 of the chartered accountants who took portion successful our survey calling for greater oversight, determination is wide designation that effectual regularisation is cardinal to some unlocking AI's imaginable and gathering spot successful this technology.

"Any regulatory attack indispensable beryllium proportionate, practical, and onslaught the close equilibrium betwixt enabling innovation and protecting against misuse and misinformation. AI regularisation remains reserved to Westminster, making coordinated enactment crossed the UK indispensable to springiness concern the assurance to put successful and follow AI.

"Chartered accountants person a cardinal relation to play successful shaping aboriginal regulation. Their expertise successful governance, audit, morals and hazard means they are perfectly placed to assistance policymakers make practical, effectual frameworks and enactment businesses to instrumentality them."

The survey builds connected earlier ICAS-commissioned probe into generative AI and nonrecreational judgement.

Published successful March, that survey recovered that 72% of the accounting professionals surveyed were acrophobic that the exertion could pb to errors oregon incorrect decisions.

More than half, oregon 52%, besides pointed to risks astir lawsuit information privateness and confidentiality.

Taken together, the 2 sets of findings amusement sustained interest among accounting professionals implicit the risks linked to AI and enactment for stronger government-led oversight.

"ICAS members telephone for bigger authorities relation successful AI regulation" was primitively created and published by The Accountant, a GlobalData owned brand.