We spoke on behalf of the Canadian chamber of commerce, a non-profit organization of citizens who are investing their time and money in a community development program-working together to improve the economic, civic, and cultural well-being. The main task we were given was to propose a policy for the use of deep-fake technology in favor of the Canadian chamber of commerce. The Chamber’s mission is to create an environment in which businesses can prosper. The Chamber works continuously for the growth of the city, and business expansion. Given the challenging economic situation of the Covid-19 pandemic, our attitude of us regarding the DEEP-FAKE technology is that we should maintain good relations with those technology companies because they are major investors in most Canadian cities. Banning or regulating deep-fake technology will limit innovation and investment. This will have a negative impact on our economic recovery.
As a result, what are our values? The Covid epidemic has wreaked havoc on the world economy. Since 2019, several small and medium-sized firms have closed, resulting in a sharp fall in Canada's GDP and the unemployment of many Canadians. Canada's economy is gradually rebounding as a result of the Canadian government's decision to cut interest rates and give economic assistance. A pandemic on a worldwide scale is altering our planet and economy. However, businesses must spearhead economic recovery. Canadians may reclaim their lives only if they are gainfully working. The business community can play a critical leadership role in advancing this aim by providing enterprise-based solutions. As a result, we are here to assist these firms.
When deciding how to respond to deep fake threats in Canada, we must examine the risk posed by this technology. Artificial intelligence is used to create realistic scenarios, which are often in the form of video. As demonstrated by the phony Defense Minister interview, this technology has the ability to pose serious challenges to Canada's interests. When deep fakes are used maliciously, such as in disinformation operations, or when an individual's identity is utilized without their consent, it may be detrimental to society. However, given the dynamic nature of technology, we must exercise caution in our decision-making.
Regulating the technological industry, on the other hand, may result in unforeseen effects. Due to the fact that rules may be expensive for businesses, the larger organizations are often unaffected, while small and medium-sized enterprises face an unfair disadvantage. Thus, regulations can stifle innovation and even drive small enterprises out of the field, resulting in a monopoly of huge corporations. With a $173 million investment in digital technology through its supercluster initiative, Canada and its economy have made technological innovation a priority. Imposing regulations on deep fakes would contradict this aim and would stymie job development and economic progress.
The most effective strategy to combat the threat of deep fakes is to stimulate innovation in the technology industry. While deep fake technology is developing, this advancement benefits the businesses that are attempting to determine the authenticity of deep fakes. In other words, the more sophisticated the bogus data on the Internet, the more sophisticated the detecting technology. By the end of 2020, firms and people striving to defend against the harmful use of the technology would have discovered over 85,000 deepfake films. Already, there are instances of corporations innovating. Recently, Microsoft, Intel, and Adobe joined together to improve the identification of bogus material on the internet. We think that the Canadian government should invest in such programs to position Canada as a worldwide leader and stimulate technological innovation.
We investigated the various perspectives of many stakeholders in the instance of deepfakes. Facebook, one of the largest social media platforms, recently published a blog in which they stated their opposition to deepfake media and stated that they have been facilitating conversations with over 50 global experts from technical, policy, media, legal, civic, and academic backgrounds to inform their policy development and advance the science of detecting manipulated media. Similarly, the Canadian Security Intelligence Service opposes deepfakes, believing that they can represent a major threat to Canada, stating that "a convincing video published right before an election might cause serious harm before a denial could erase the damage." Traditional media companies take a similar stance against deepfake because they wish to safeguard the integrity and security of the news they give, since delivering altered media might undermine their reputation. However, the businesses that develop deepfake technology are opposed to any regulation because they believe the technology is not mature enough to represent a substantial danger.
We are worried that regulation of deepfake technology would stifle innovation; yet, we recognize the importance of addressing security issues. This is why we propose a $5 million fund to support technology start-ups/deep fake firms in developing technologies capable of automatically detecting deep fakes. This technology may be offered publicly or utilized internally by government entities and news organizations to ensure that no further security concerns occur.
Our idea is motivated primarily by the technology industry's considerable effect on the Canadian economy. Canada's technology industry is a significant economic engine and continues to grow at a breakneck pace, outpacing several industries in the process. As the bulk of everyday activities become digital, technology-based enterprises have become critical for increasing GDP, creating well-compensated employment, and innovating via sophisticated technology research and development. Over the next five years, the technology industry is predicted to increase at a rate of 17.4 percent. The IT industry has demonstrated greater resilience than other sectors during the pandemic's early stages, and imposing restrictions (even if simply on deepfake technology) may be detrimental to its growth. Our approach is expected to generate employment and stimulate innovation, hence boosting Canada's economic growth.