As artificial intelligence reshapes economies and societies, business leaders must consider how they will work with policymakers to govern the technology’s development.

In the European Union, the recently adopted AI Act requires businesses to take precautionary measures depending on the risks associated with different use cases. Thus, using AI to engage in “social scoring” is deemed “unacceptable,” whereas AI-augmented email filters come with “minimal risk.”

The success of this approach will depend on businesses contributing technical expertise and practical insights to strike a balance between promoting innovation and addressing societal concerns. Leaving regulation entirely to policymakers and a few powerful companies risks creating rules that serve only Big Tech’s interests, while sidelining other industry perspectives.