Blockchain and Artificial Intelligence: Governing Emerging TechnologiesÂ
Introduction: Defining the Concept of Emerging Technology Governance
Emerging technology governance is a complex yet essential discipline, concerning the regulation, management, and policy implications of new and still-evolving technologies, such as Artificial Intelligence (AI) and Blockchain. These emerging technologies carry significant potential for economic growth and societal impact, transforming products and services across multiple sectors. By harnessing these technologies’ potential benefits alongside mitigating the risks associated with their growth and use, stakeholders can create new strategic opportunities and spur innovation.
Blockchain and AI: Market-Centered Digital Governance
To understand the political implications of emerging technologies like blockchain, one must appreciate the pivotal role of blockchain technology and Artificial Intelligence (AI) in the Fourth Industrial Revolution. Blockchain technologies, like distributed ledger technology (DLT), offer transparent, secure, and tamper-proof systems for recording transactions. Blockchain-based platforms, secured by smart contracts and peer-to-peer networking, could be used to decentralize personal data control, thus elevating data privacy levels and identity management. On the other hand, AI, including Machine Learning (ML) and Deep Learning (DL), offers sophisticated decision-making capabilities, fueling advancements in sectors like supply chain management, e-commerce, healthcare, and open access to information.
