Tech community weighing how to balance AI's risks and rewards at Elevate conference

Members of Canada’s tech community are concerned about how the country will rein in the risks of artificial intelligence without stifling innovation.

As they gathered in Toronto for the annual Elevate tech conference, much of their chatter focused on the technology's great promise, but many said they also feared over-regulating AI would put the nation behind its counterparts hurdling toward adoption without guardrails.

“I'm a little bit afraid of just putting the brakes on because while we might want to put the brakes on, other places aren't putting the brakes on and I feel that that's going to create an adoption gap that we can't afford to lose,” said Joel Semeniuk, chief strategy officer of Waterloo, Ont., tech hub Communitech at a breakfast adjacent to the conference.

“I actually feel like we need to go all in but with all of the regulatory perceptions in place at the same time.”