Interview: Ringfence - Whitney Gibbs

Shaping AI Ownership

• Guest: Whitney Gibbs, Founder of Ringfence
• Host: Szabolcs Gergely, Podcast & YouTube Host at Morningstar Ventures

Top 3 Takeaways from Our Guest:

1. AI has positively contributed to our daily lives.

To kick off the conversation, we asked Whit what he thinks about AI’s effects on our daily lives. He explained that even though there are some negative effects on the media or social platforms, he finds AI’s contribution to our lives a significantly positive tool. He highlighted how AI improved medicine in recognizing unwanted cells or in the creative space and how AI can help somebody with a good idea who lacks graphic or content creation skills transform their vision into visual content.  

2. The AI industry must have a platform where creators are paid for their work. 

Whit carried on the conversation and highlighted that even though there are countless applications for Generative AI, the big companies are still unable to use them due to the unknown origin of the content. Companies are afraid of using content where the original creator is unknown or hard to determine as that could bring uncertainties from a legal point of view; therefore, a platform where the creators are paid for their work and the copyright is well established is a must to move this industry in the right direction. 

3. AI regulation should not get in the way of industry development. 

Finally, Whit explained that navigating AI regulations is not as complicated as it may sound. Existing regulations are a work in progress, and more is to be expected. However, if we apply common sense and operate in the AI industry as we would operate in more traditional business considering asset ownership and copyright, AI regulations should not get in the way of the development of this industry.