Benefits and citizen protection in AI: Pompeo Pontone’s analysis

The progress achieved in the field of artificial intelligence, and the resulting advantages, should go hand in hand with the updated regulatory frameworks and should ensure the protection of individuals. Pompeo Pontone, Investor and Investment Specialist with 25 years of experience in Quantitative Finance and Financial Derivatives, as well as Data Science and Financial Technologies, has recently addressed the issue. The analysis examined a recent article published in the magazine “Eureporter”, on the topic of artificial intelligence and with a special focus on European Union’s legislative framework.
“For many years artificial intelligence has been used in almost every sector of the economy”, Pompeo Pontone said in his speech, also emphasizing how the use of this technology is progressively involving more and more aspects of everyday life. Nowadays, artificial intelligence “is also changing the lives of ordinary people, to a degree that goes beyond what can be understood”, pointed out the expert in the analysis. It is not by chance that the issue is much debated, both in Europe and globally, with diverging positions: in the European Union, the comparison led to the drafting of a White Paper by the Commission, which stressed the need for a unified approach among the 27 Member States, in order to avoid different measures in the countries.
This is partly due to the fact that artificial intelligence is constantly growing and its application progressively involving areas that the European Commission itself defined as “high risk”: these can include, for example, the healthcare sector or the regulatory implications governing citizens’ rights. From these considerations, continued Pompeo Pontone, comes the need to “develop a complete and clear regulatory framework on artificial intelligence as soon as possible”, a necessity made even more urgent by the recent introduction of AI in areas such as agriculture, climatology and industry manufacturing, as well as sustainable energy and mobility, just to name a few. The fields affected by the phenomenon become therefore more and more numerous and, above all, crucial in the life of human beings: in this respect, it is then necessary to “find the right balance between the advantages deriving from innovation and the protection of citizens”, concluded Pompeo Pontone, “especially in the so-called high-risk artificial intelligence applications”.