As he called on nations to work up to saddle the emerging technology as a force for good, Prime Minister Lawrence Wong stressed the need for health, equality, and creativity to proceed in parallel within artificial intelligence.
Mr Wong was speaking on Tuesday ( May 21 ) at a virtual officials ‘ gathering of the , AI Seoul Summit, which was i- organised by South Korea and the UK.  ,
The event expands the scope of the event’s reach beyond the scope of the international AI governance framework and builds on the commitment to AI safety made at the UK’s AI Safety Summit last November.
The key is to funnel AI’s benefits and minimize its harms and risks at the same time, said Mr Wong, as he made three ideas.
The first is to control AI without stifling possible innovation.  ,
Calling for , practical regulation parameters, he said:” Broadly classifying all conceptual AI as’ higher- risk’, or regulating AI systems on the condition that they must not cause any harm, can be extremely restrictive and will eventually lead to less innovation”.
He claimed that Singapore strikes a balance between protecting personal data and combating specific online criminal offenses involving AI.
Additionally, the nation has created an AI Verify safety testing toolkit, which he claimed will continue to be improved in collaboration with the open-source community.
It is also crucial to keep an eye on how AI is used over time, and change and update regulatory frameworks as needed.
Using the example of AI in finance, such as in risk management and fraud detection, he said that the AI models will not always be perfect. Financial regulators do, however, understand and be able to manage these risks.
However,  , AI can also be used in areas where the risks are much higher, and where , there can be catastrophic outcomes if things go wrong.
” These include AI that is embedded in military weaponry, as well as the creation of fully autonomous AI models that can operate independently and independently without the aid of humans.”
One can envision scenarios where AI rebels against other countries or when rivalry between nations results in unintended outcomes, he said.
This is why the world needs to carefully consider the safety standards and standards to ensure the technology is used responsibly and safely, he added.