Biden Administration Takes Bold Steps to Regulate AI Industry
On Thursday, President Joe Biden held a meeting with CEOs of top AI companies, including Microsoft and Google, where he emphasized the importance of ensuring the safety of AI products before their deployment.
AI has become increasingly popular this year, with many companies launching similar products to ChatGPT. However, concerns have arisen regarding privacy violations, skewed employment decisions, and potential scams and misinformation campaigns.
Biden, who has experimented with ChatGPT, expressed the need to mitigate AI’s risks to individuals, society, and national security. The meeting discussed the importance of transparency with policymakers, evaluating the safety of products, and protecting them from malicious attacks.
Vice President Kamala Harris expressed potential safety, privacy, and civil rights concerns, highlighting the legal responsibility of companies to ensure the safety of their AI products.
The National Science Foundation has announced a $140 million investment to establish seven new AI research institutes, and the federal government has released policy guidance on AI usage.
However, U.S. regulators have fallen short compared to European governments’ strict technology regulation. To address this, the U.S.-EU Trade & Technology Council is collaborating on this issue.
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The Biden administration has implemented an AI Bill of Rights, a risk management framework, and an executive order mandating federal agencies to eliminate AI bias.
Additionally, the Federal Trade Commission and the Department of Justice’s Civil Rights Division have pledged to leverage their legal authorities to combat AI-related harm.
Despite tech giants’ efforts to combat propaganda, fake news, pornography, child exploitation, and hateful messaging, they have not been successful.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
