US Lawmakers Propose Comprehensive Regulatory Guidelines For AI
With the rise of emerging technologies, especially AI, several opportunities have opened up, but so are the attendant risks. Hence, it is no surprise that policymakers seek to establish and implement comprehensive regulations to govern the industry.
Accordingly, two United States Senators have unveiled a bipartisan plan for overseeing the artificial intelligence (AI) sector.
Mandatory License For AI Firms
Senators Richard Blumenthal (D-Conn.) and Josh Hawley (R-Mo.) have called for compulsory licensing for AI companies. They stated that permissible safeguards for technology liability would not provide immunity from legal aftermaths for these firms.
Blumenthal posted on X, revealing that this framework represents a significant step forward. It is a legislative strategy for tangible and enforceable AI protections.
The Senator is confident the framework would serve as a road map for exploring the benefits and understanding the risks of the rapidly expanding AI sector. Hawley emphasized that the principles outlined in the proposed framework would serve as the foundation for Congress to make progress in developing AI regulation.
Furthermore, AI developers would have a structured foundation guided by the regulatory body’s comprehensive protocols under this innovative system. The new legislation requires a registration process that ensures that every player in the AI landscape is appropriately licensed.
In addition, the oversight agency will scrutinize each intending industry player, ensuring adherence to the highest standards of ethics, safety, and accountability. The proposed framework represents a landmark moment in the US AI ecosystem regarding transparency and accountability.
Moreover, the proposed framework emphasizes the importance of Congress passing a clear and distinct requirement as contained in Section 230 of the Communications Decency Act. The Act grants legal immunity to technology companies for content posted by third parties but does not extend to artificial intelligence applications.
This critical policy change aims to create a comprehensive regulatory landscape for the rapidly evolving field of artificial intelligence.
Upcoming Public Hearing
The two lawmakers, who head the Senate Judiciary Subcommittee on Privacy, Technology, and Law, are planning a significant hearing for Tuesday, September 12. This gathering will include insights from prominent figures in the tech industry.
Among the notable speakers is Brad Smith, Microsoft’s Vice Chairman and President, well-known for his extensive contributions to the field. William Dally, the Chief Scientist and Senior Vice President of Research at NVIDIA, will join him to provide expert insights into cutting-edge advancements in AI and technology.
The announcement of the public hearing and the release of the comprehensive regulatory framework comes ahead of Senate Majority Leader Chuck Schumer’s highly anticipated AI forum. The upcoming forum will feature top executives from prominent AI startups who will provide lawmakers with invaluable perspectives on AI implementation’s potential benefits and risks.
It is worth noting that Schumer presented an AI framework in June, but his approach differed from the one proposed by Hawley and Blumenthal. While Schumer’s proposal outlined a broad range of fundamental principles, his colleagues’ proposal was about the subtle details.
This diversity of opinions highlights the complexities of regulating and integrating AI technologies into the broader technology ecosystem. Meanwhile, the latest development comes amid growing concern about the impact of artificial intelligence on the activities of individuals and institutions in the future.
While the European Union (EU) has taken steps to legislate the industry, the US is equally looking for an effective regulatory mechanism to ensure that the sector is appropriately regulated.
Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.
