AI Regulation for Sustainable Business: Legal Challenges in Eastern and Central Asian Emerging Economies
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Abstract
This study examines the regulatory challenges of artificial intelligence for business sustainability in Central and Eastern Asian emerging economies. Artificial intelligence has faced significant legal hurdles in developing a robust framework that supports innovation and promotes sustainability.
The paper employed key constructs, including technological readiness, regulatory maturity, institutional capacity, and ethical considerations, to test the relationship between these factors using structural equation modelling to confirm the relationships between the hypotheses. 250 respondents were surveyed using questionnaires using a 5-point Likert scale. This approach assesses the direct impacts on business practice and sustainable artificial intelligence in Eastern and Central Asian Emerging Economies. The study collected data from the views and perspectives of experts from Eastern and Central Asian emerging economies from different fields of study. The respondents consist of AI, business and economics experts for the survey across the emerging economies of Eastern and Central Asia.
The findings indicated that institutional capacity and regulatory maturity significantly influence technological readiness, ethical considerations, and business sustainability, which in turn affect the effectiveness of sustainable business practices. However, the inconsistency in policy enforcement and regulations regarding artificial intelligence impacts the institutional and business framework.
The implications include promoting legal reforms, fostering cross-border cooperation, and strengthening institutional frameworks to ensure an efficient contribution from artificial intelligence in the Eastern and Central Asian regions.
This study provides valuable insights by shaping the regulatory challenges towards sustainable business in the Eastern and Central Asia regions.
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