looking at a gathering of industry leaders in london to discuss regulating artificial intelligence. in the meantime, if you're looking for more global news headlines, you can find them on our website. that was d, w dot com and of course make sure to follow up and social media are handled. there is access to the news article fairly thanks so much for joining the registrar to be issues with a lot say what crazy. the interest, the global economy portfolio g w,

business be here's a closer look at the project. to analyze the flight for market dominance, get a step with dw business beyond the world leaders and the biggest names in our special intelligence gathering. lumpkin to discuss ways to regulate the industry. the gathering comes from it, concerns that the pace of technological development is out pasting government's ability to regulate its capabilities. over coming up economist sound the lar, if i'd had the global supply of oil, could be threatened by a further escalation of the complex and then the least this is dw business. okay. ferguson, thanks for joining me. were leaders,

academics on the tech industry insiders are attending the world. the 1st ever a i safety somebody's at leslie park in london, famous for being the top secret home of britain's world war 2 code breakers. the mason comes at a time of rapids developments within an industry that problem, since both enormous potential and terrifying risks. a blatchley bulk in leafy buckinghamshire here a team led by alan turing cracked in my coat, turning the tide of the 2nd word. well. now global leaders and industry experts hoping to crack the ai cipher, one of the most significant challenges of our time, industrial data, some ottoman c, e o of open a. i spelt out the risk for us, send it your district committee. my worst fears are that we cause significant. we the field, the technology industry cost significant harm to the world. i think that happened a lot different ways. it's images like these from china that have store feels about

e. i in very, it's going face recognition and public spaces total surveillance and total government control focus traded by machines. not humans. earlier this week, us president biden signed and executive order to place god rails on the use and development of a i such as binding the creation of deep fix and weapons. just like everyone else, he hopes to address the risk sophie, i was to tapping into its benefits, all the people who are involved and we're going to see more technological changes in the next 10, maybe next 5 years. and we've seen in the last 50 years, and that's a fact. that's the most consequential technology. our time artificial intelligence is accelerating. that change is good, exhilarated award speed. hey, height is all around us. well, the us is acting swiftly, but the executive order, the european union's artificial intelligence act will not come into effect until 2026 given how fast it falls that looks like a long time,

ultimately exports. hope governments can impose strict regulations on an industry that office tremendous opportunities, but also has the potential to devastate humanity. is up to the quote break of leads, the enigma cipher at blatchley bach ai is the new quote to be correct to you to our correspond via because mazda is following that event of leslie park in london. i asked her how governments are trying to work the line between fostering innovation and safeguarding society. it's a balancing act case. most countries are really desperate to attract companies that work with i because these are really the future technologies and everybody's trying to get a head start. but obviously we also know that the big risk involved and the technology, but even the experts don't even know what these machines will be able to do in the future. critics, i'm pointing out that there is actually, there are wrist at all, much closer to home and they are being at risk of being forgotten here at this

conference. because there are, there are risk, for example, when it comes to spreading fake news. one expert told me that in the future, within really lightning speed of fake news, altered images, old videos could be distributed around the world much for us to even then they can today. so experts are calling for more actual regulation, these attendees here, and richie, so not the same is not really to develop a regulatory framework, let alone an international or regular tele framework. but it's a common understanding, but experts are saying that this is not enough and that the countries need to build something very false. the need to build frameworks at home and then needs to be more monitoring of companies and mobile. ensuring all of these technologies on the question of a common understanding, though, we know that us vice president come la harris is attending this event, as is european commission present was left on the line and un secretary general. antonia gutierrez, given that a i driven technologies have such

a global reach almost by definition, how feasible do you think it even is to reach anything close to a global consensus? is there a different? definitely a lot of initiatives when it comes to artificial intelligence, there's something on the you end of the us as just put out an executive order. that's us companies to be much more transparent when it comes to artificial intelligence. the g 7 have come to an understanding and also the use is very close to publishing what they call the author official intelligence at which is from what we know the legislation that would go further in terms of actually regulating the sector. so there are many initiatives on many different levels, but what prime minister student wants to have here, he wants to have the top x pads really, the top brains. some of the code fathers of artificial intelligence are here at the

summit. and he's got some of the really top tech executives to really talk about where, where i need to be the guard rails of the future and how on an international love you how, how can the risk be mitigated. and whereas the common understanding of the risk of artificial intelligence. yeah. until he of those big brains, uh, one of the people attending will be some old man who find it open a i that's the company behind shot c, p t. a lot of mosque is coming to what message can we expect from them. so these big companies are driving the innovation when it comes to artificial intelligence. and we know that, you know, in most has, in the past one of the dangers bought at the same time companies. what's much ross, us health regulate then being subject to very onerous regulation on national international level. i have spoken to

a delegation that work in the european defense company and they are saying, well, it's really regulation is important. vault. on the other hand, we need to make sure that we, that the democracy's all based of the not losing all a speed. we need to be on top of it so we can stop the research, we can stop the innovation, we need to move as fast as possible, so that the democracy's all winning that right. so there is, there is a balancing act companies want some for so, so to a framework that wants to know where they can stop, but at the same time they don't want to be regulated too much. they get them off in london, there are no to some of the other global business stories and nation news. we work is funding to file for bankruptcy as soon as next week. that's according to a report and the wall street journal. the flexible workspace provider has present in 39 countries around the world, the struggle to cope with a mazda of debt pile and heavy losses. chinese real estate joint advert ground has proposed a new death restructuring plan, but with the offshore bondholders trade,

their desk for 30 percent stake in the company to hong kong based subsidiaries across bondholders would like to see major losses and interest payments if they agree to the terms, thousands of government workers have barricaded roads in the band with actually capital caught demanding a 3 sold rise in wages. the countries textile industry kinds for 85 percent of total export. western companies like audi task h, them a gap, are among the companies of the purchase goods combined with that sheet money to to have a for russia's invasion of ukraine. there was relatively little public awareness of how much the world relied on ukraine for the supply of grain, or how much of europe depended on russia for its energy supply. now is the devastation, conflict continues to unfold in mid least. some are beginning to wonder what the bigger economic values and occasions might be, especially when it comes to the global supply of oil, which could be effective if

a ron, which becomes more than foiled and the conflicts. the region is also the key shipping routes with disruption to key waterways like the suez canal and the strength of remove potentially causing delays and delivery. earlier i spoke to customer jet ski chief economist, i n g. i asked him what a possible escalation involving iran could mean for the global supply of oil. indeed, i think this is where this conflict will have be, are repercussions for the rest of the world. so just looking at freight is very naive, but the oil is in extremely important when we saw already when, when the, the, the terroristic attacks on israel started. the process started to search. if you're on one way or the other was to be involved in this conflict. you're on being an important producer of all, if the entire middle east would somehow or one way on the other be involved in this conflict with as a result of maybe even sanctions coming from the us on iran,

on other countries. this would that include, he has a big impact on, on oil producing countries, and therefore would see all price is going up. if this is, this is caustic, was to escalate. we could really see all the prizes going above $100.00 per barrel very easily. yeah, and this region is also a key passageway for shipping. what, what a disruption those roots means, the global economy, or indeed you always see, especially the history of homeless, which is a very important one, not only for all transportation, but in general for, for transportation. so this would, that have an impact again, especially on our price is adding to the upward pressure on all prices. and i think that was the bottom line here. so one is we, we don't know anything. mean that's also what all the other countries geopolitical tensions over the last couple of years have shown us. it is impossible to really

tell anyone what the direct impact for the explicit implant on growth will be. but what we do know is that there will be, especially when the, the entire region will be involved in this concert. there would be a big impact on all prizes that wouldn't be of impact on at least the transportation. and that, that this idea that, that oil prices could go back to 70 or $80.00 per barrel would be something off the pass and that we then would have to keep your pad for another on price prices. how likely do you think such a scenario is in all honesty, i wouldn't dare currently making predictions of how likely such a scenario is. i think what, what is important is that we know now from with it what are the pin demick, the war and ukraine, and also these unexpected event, this kind of huge repercussions kind of

a huge impact on the global economy. i think that's also went out in this, in this era of self overlapping emergencies. also makes that uncertainty economic sentiment uh could could we could further. and um, so that for i would not come up with a prediction how likely such a scenario is. but the last 2 years has really, really taught us that is always good to come up with scenarios. the bass case scenario is one in which the conflict will not further escalate. and we will not get the entire region being involved in this conflict. but clearly, one of the risk scenarios is one with a further escalation and also then as a consequence, much higher on prices. and you can see the full interview with mr. jesse on youtube from east, by the

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