The US Chamber of Commerce has called for regulation of artificial intelligence technology to ensure it does not hurt growth or become a national security risk, a departure from the business lobbying group’s typical anti-regulatory stance, reports Reuters.
The debate around AI regulation has intensified, particularly after the widespread adoption of AI chatbots. Since the successful launch of OpenAI’s ChatGPT in November, many tech industry leaders have been working to shape their businesses with AI technology.
A commission led by former representatives John Delaney and Mike Ferguson has urged Congress and the Biden Administration to make rules to regulate AI and demanded that it be “top-prioritized.”
Also Read:UK Online Safety Bill to Regulate AI Chatbots
The commission said “virtually every business and government agency” will use AI within the next 10 to 20 years.
I was honored to co-chair the #ChamberAICommission with voices from business, labor, academia & civil society. Lots of work to do, but I’m optimistic that we can develop policies to balance privacy, security, US innovation leadership and allow for better outcomes for all https://t.co/trTuBcJkZQ
— John Delaney 🇺🇸 (@JohnDelaney) March 9, 2023
The U.S. is “uniquely situated” to lead the AI regulation effort, thanks to its technological superiority, legal system, and alliances with fellow democracies, wrote the Chamber’s commission in its report.
“Policy leaders must undertake initiatives to develop thoughtful laws and rules for the development of responsible AI and its ethical deployment,” stated the commission.
“A failure to regulate AI will harm the economy, potentially diminish individual rights, and constrain the development and introduction of beneficial technologies.”
The report, which gathered insights from 87 experts, suggests policymakers should prioritize filling gaps in the law regarding AI.
US faces stiff competition from China
China represents a serious threat to US AI market dominance.
“This competition is so fierce that it is unclear which nation will emerge as the global leader, raising significant security concerns for the United States and its allies,” stated the commission.
Another critical factor that will affect the path forward in the development of AI policy-making is how nations historically consider important values, such as personal liberty, free speech, and privacy. The commission recommends that in order to maintain its competitive edge, the US should come to an agreement on resolving critical legal challenges that are currently hindering the growth of the industry.
However, it remains uncertain whether its allies will collaborate to establish a common set of rules to address these legal challenges, or whether a more competitive and potentially harmful legal environment will emerge on an international level.
Time is now
AI’s impact on the economy, individual lifestyles, and global interactions is poised to be transformative. Therefore, it is imperative that public policy focuses on managing the potential negative consequences of this transition, suggests the commission’s report.
The report places emphasis on the fact that we need to act quickly to mitigate potential risks and fully capitalize on the vast benefits of AI, as there may only be a limited timeframe in which to do so.
“The time to address these issues is now,” stated the report.
To effectively tackle the challenges posed by AI, the Commission has identified several key areas that policymakers must focus on. These include educating and preparing the workforce, enhancing global competitiveness in the realm of intellectual property, fostering stronger partnerships, and safeguarding national security.
“Having understood the urgency to develop policies to promote responsible AI and to ensure economic and workforce growth, the Commission used these pillars to develop policy recommendations to put these priorities into action,” stated the report.
Despite advocating for increased regulation, the Commission emphasizes the importance of considering broad exceptions in the application of these regulations.
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