Towards an unanimous international regulatory body for responsible use of Artificial Intelligence [UIRB-AI]

AI, is once again in the phase of drastic advancements. Unarguably, the technology itself can revolutionize the way we live our everyday life. But the exponential growth of technology poses a daunting task for policy researchers and law makers in making amendments to the existing norms. In addition, not everyone in the society is studying the potential socio-economic intricacies and cultural drifts that AI can bring about. It is prudence to reflect from our historical past to propel the development of technology in the right direction. To benefit the society of the present and future, I scientifically explore the societal impact of AI. While there are many public and private partnerships working on similar aspects, here I describe the necessity for an Unanimous International Regulatory Body for all applications of AI (UIRB-AI). I also discuss the benefits and drawbacks of such an organization. To combat any drawbacks in the formation of an UIRB-AI, both idealistic and pragmatic perspectives are discussed alternatively. The paper further advances the discussion by proposing novel policies on how such organization should be structured and how it can bring about a win-win situation for everyone in the society.