Coinbase CEO, Brian Armstrong, has weighed in on the debate surrounding the regulation of artificial intelligence (AI). In a recent post on social media platform X (formerly Twitter), Armstrong asserted that AI should remain unregulated to foster its rapid development, citing concerns about national security.
Unintended Consequences of Regulation
Armstrong argued that well-intentioned regulations often lead to unintended consequences, stifling innovation and competition. Drawing parallels with the internet’s “golden age of innovation,” he emphasized the need for a similarly unregulated environment for AI to flourish.
Decentralization and Open Sourcing
The Coinbase executive proposed an alternative approach to safeguarding the AI sector—decentralization and open sourcing. Armstrong believes that by decentralizing AI and making it open source, innovation can thrive while addressing concerns about regulation.
While Armstrong advocates for a hands-off approach to AI, several countries have already embarked on regulating AI. China implemented provisional guidelines for AI activity and management, marking a significant step in AI regulation. In the UK, regulators are studying AI’s potential impact on competition and consumers, acknowledging the rapid changes AI can bring.