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Coinbase CEO Warns Against AI Regulation and Calls for Decentralization

In a recent post on social media platform X (formerly Twitter), Brian ArmstrongThe CEO of crypto exchange Coinbase has expressed his stance on regulating artificial intelligence (AI).

on September 23 Armstrong says he believes artificial intelligence should not be regulated. According to Coinbase CEO, the artificial intelligence industry needs to evolve rapidly for many reasons, including national security. Additionally, Armstrong found that despite regulators’ best intentions, regulations “has unintended consequences” And It kills innovation and competition.

I believe AI should not be regulated.

For many reasons (including national security) we need to make progress as quickly as possible. And the history of regulation shows that despite the best, it leads to unintended consequences and kills competition and innovation…

— Brian Armstrong ️ (@brian_armstrong) September 22, 2023

Coinbase manager cited the internet as an example. Armstrong believes there is one “Golden age of innovation” Because there is no regulation on the internet and software. The Coinbase CEO suggested the same should be applied to artificial intelligence technology.

Additionally, Armstrong offered an alternative to regulation to protect the AI ​​industry. It would be better according to the manager “Decentralize it and make it open source to let the cat out of the bag.”

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Meanwhile, Many jurisdictions around the world have begun to regulate AI or have expressed concerns about its potential impacts. 15 August entered into force interim guidelines Chinese For AI effectiveness and management. The rules were published on July 10 and are the result of a joint effort by six government agencies in the country. This is the first set of AI rules implemented in the country following the recent boom in the technology.

in england, The regulator is studying AI to determine its potential impact on competition and consumers. On September 18, Competition and Market Authority A study from the UK concluded that although AI has the potential to transform people’s jobs and lives, the changes can happen very quickly and have a significant impact on competition.

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