Despite the best efforts of lawmakers and the president, artificial intelligence (AI) regulation seems a distant dream. According to Greg Valliere, chief U.S. policy strategist at AGF Investments, the primary reason is a lack of tech know-how. In fact, Valliere asserts that Congress will not regulate AI in 2023.
This conclusion is no great surprise; the complexities of AI are hardly understood, and Valliere believes that lawmakers are unlikely to get up to speed before 2024. In contrast, the European Union has already passed legislation on five AI-related areas: transparency, data protection, national security, misinformation, and AI’s impact on jobs.
While the US continues to lag behind, it is worth remembering that AI innovation has traditionally outstripped regulatory response. It may well be that businesses can determine the ethical use of this powerful technology better than lawmakers ever could.
AI Lobbying: Tech Giants Push for Greater Transparency and Responsibility
In recent developments, US President Joe Biden and Senate Majority Leader Chuck Schumer have put forward separate plans to oversee artificial intelligence (AI) and its effects on society. This comes after years of largely overlooking the impact of social media.
Meanwhile, major tech companies including Microsoft, OpenAI and Google are already pushing for greater transparency and responsible use of the technology. Their efforts involve lobbying governments worldwide to introduce regulations in the evolving area of AI.
However, according to tech expert Greg Valliere, regulating AI is a complex issue that may take until the end of this decade to address thoroughly. In fact, the US is currently lagging behind in regulating the increasing use of surveillance and misinformation in AI operations.
Despite this, the positive potential of AI remains; efficient automation and increased productivity could be game changers across industries. Either way, it is clear that regulations over AI and similar technologies are inevitable.
