BBAI - The White House is looking to develop a national AI strategy

2023-05-24 07:34:05 ET

As generative AI systems take many industries by storm, calls have been growing on the need to regulate emerging tools and address the potential downsides of the technology. Just last week, the CEO of OpenAI, the creator of ChatGPT, testified to Congress about the necessity of government intervention for mitigating the risks of increasingly powerful artificial intelligence models. While lawmakers didn't arrive at any specific proposals at the first AI hearing on Capitol Hill, several ideas were brought up and more are now on the horizon.

Snapshot: In response to "one of the most powerful technologies of our time," the Biden administration is taking new steps to "advance responsible artificial intelligence." The first is updating its roadmap, called the National AI R&D Strategic Plan , which outlines key priorities and goals for federal investments in AI research and development. It also released a new request for public input on critical AI issues, like "protecting individuals' rights and safety, and harnessing AI to improve lives." A new report on AI trends in education is being addressed as well, which will cover the risks and opportunities related to teaching, learning, research, and assessment.

Social media went through similar scrutiny during its growth stages in the 2010s. Under the microscope were addictive behavior and disorders stemming from social comparison - and later - data privacy and misinformation. The difference this time around is that AI companies are generally calling for increased regulation as they disrupt current models, compared to the once-famous motto of "move fast and break things" of Facebook founder Mark Zuckerberg. The government today also seems to be keenly aware of moving too slowly on the tech front, with U.S. Surgeon General Vivek Murthy even releasing an advisory that covers the dangers of social media on child and adolescent brain development.

SA commentary: "Hype over AI investing has quickly caused a bubble to form in AI stocks," writes SA analyst Logan Kane in Artificial Intelligence Investing Hype Needs A Reality Check . "History shows dozens of similar examples with each new technological innovation," citing lessons learned from the dot-com bubble, and similar patterns that have recently played out in cannabis stocks, sports betting and blockchain. He also compares tech innovations that lead to increased growth and corporate profits vs. trends that weigh on labor productivity and margins.

More on artificial intelligence

• European lawmakers ask for new rules to regulate AI so it's 'safe and trustworthy'
• Biden administration puts out formal request for comment on potential AI regulation
• Elon Musk, Steve Wozniak join call to pause most AI development

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