New Delhi: Some industry experts are skeptical whether Elon Musk’s unconventional methods and Donald Trump’s leadership will ultimately benefit AI regulation and the market at large, according to a new report.
Trump has been re-elected as President of the US with Musk appointed to lead the newly established Department of Efficiency.
Musk’s role focuses on streamlining government processes and integrating advanced technologies, a development that marks a significant shift in the regulatory landscape for artificial intelligence (AI) and other emerging technologies.
However, some industry experts remain skeptical, said GlobalData, a leading data and analytics company.
According to forecasts, the global AI market is set to reach over $1 trillion by 2030, up from $103 billion in 2023, with a compound annual growth rate (CAGR) of 39 per cent over the period.
Kamilla Kan, senior data scientist, Medical Devices team at GlobalData, said that with the increasing adoption of AI across sectors, the need for robust, forward-thinking regulations is more critical than ever.
“AI technologies are becoming integral to a range of industries, and we expect this trend to accelerate globally in the coming years. However, it remains uncertain whether Musk’s approach will truly enable the responsible growth of AI or if it may inadvertently create regulatory gaps that could hinder the technology’s safe and ethical integration,” Kan emphasised.
Musk’s efficiency-focused mandate includes developing frameworks aimed at streamlining AI compliance while fostering innovation, though there is uncertainty about how effective his approach will be in practice.
His appointment reflects the government’s intention to strengthen the US position in AI and technology, which are now viewed as critical for economic growth and national security.
Musk’s Department of Efficiency is expected to provide some regulatory consistency and clear guidelines to help businesses harness AI responsibly.
However, concerns remain about whether this approach will adequately balance public trust with the rapid demands of technological advancement, said the report.
IANS
Congress asks govt to ensure OBC quota in private colleges as well
New Delhi: Seeking quota in private institutions of higher education as well, Congress MP Jairam Ramesh on Tuesday commemorated the anniversary of an UPA era law that came into effect...
Trump’s Science adviser warns China closing AI gap, urges Congress to act
Washington: White House science adviser Michael Kratsios has warned that China is rapidly narrowing America’s lead in artificial intelligence, urging Congress to move swiftly on legislation, funding and infrastructure to...
US lawmakers warn AI chatbots pose new risks to children
Washington: US lawmakers and child development experts have warned that artificial intelligence chatbots pose new and potentially more dangerous risks to children than social media, urging Congress to move quickly...
European countries rally against US tariff over Greenland
Brussels: The transatlantic rift over Greenland deepened remarkably on Sunday as Europe mounted a rare, unified rebuke to punitive tariff threats from US President Donald Trump. In the...
Zelensky says Russia prioritises strikes over diplomacy, targets Ukraine’s energy sector
Kyiv: Ukrainian President Volodymyr Zelensky stressed that if Russia genuinely wanted to end the war, it would focus on diplomacy—not on missile strikes, blackouts, or attempts to damage Ukraine’s nuclear...
Maharashtra municipal poll results – a victory of power, not principles: Shiv Sena-UBT in Saamana
Mumbai: The Shiv Sena-Uddhav Balasaheb Thackeray (SS-UBT) on Monday said those who voted for the BJP-Shinde alliance in Mumbai have effectively signed a "death warrant" for the city. It suggests...
An advocate cannot seek information on behalf of a client under the RTI Act: CIC
New Delhi: The Central Information Commission (CIC) has dismissed an appeal filed by an advocate seeking information under the Right to Information (RTI) Act related to the termination of a...
Left’s doorstep outreach triggers political storm in Kerala, echoes Cong charge of ‘scripted apology’
Thiruvananthapuram: A day after senior Congress leader and Congress Working Committee (CWC) member Ramesh Chennithala accused the CPI(M) of indulging in “political theatre” to mask a decade of governance failures,...
Machado says Venezuela is at ‘threshold of freedom’
Washington: Venezuelan opposition leader Maria Corina Machado said that her country has reached the “threshold of freedom,” declaring that a transition toward democracy has already begun following recent political developments...
Sergio Gor meets RBI Governor, discusses areas of increased cooperation
Mumbai: US Ambassador to India, Sergio Gor, on Saturday said he met Reserve Bank of India’s (RBI) governor Sanjay Malhotra here, and discussed areas of increased cooperation. Gor also visited...
Mamata Banerjee accuses ECI of selectively ‘targeting’ minority voters in Bengal
Kolkata: West Bengal Chief Minister Mamata Banerjee, on Friday, accused the Election Commission of India (ECI) of deliberately targeting the minority voters for deletion through the ongoing Special Intensive Revision...
Safe use of roads integral part of right to life under Article 21, says Haryana human rights panel
Chandigarh: The Haryana Human Rights Commission (HHRC), taking a firm stand on issues related to road safety, has categorically held that the safe use of public roads by citizens is...
