Future of AI: A Regulatory Patchwork Is Not the Answer
U.S. Chamber coalition raises concerns over a patchwork of state-level proposals to regulate AI that could slow the technology’s benefits and stifle innovation.
In an open letter to state leaders, the U.S. Chamber of Commerce and more than 60 state and local chambers from across the country called for the prioritization of AI development and adoption and the opposition of a patchwork of regulations.
Why it matters: As AI continues to evolve rapidly, it opens new doors to industry transformation, investment opportunities, job creation, and benefits businesses of all sizes.
Implications of a Regulatory Patchwork: A patchwork of state-level proposals to regulate artificial intelligence, however, threatens to slow the realization of these benefits and stifle innovation, especially for small businesses that stand to benefit the most from the productivity boosts associated with AI. For example, California is already considering sweeping new AI rules based on the California Privacy Rights Act.
While there are roles for states to promote the adoption of AI within schools, businesses, and government entities, the federal government should take the lead in developing a comprehensive framework for regulating AI.
Why a Federal AI Regulatory Framework is Necessary: A risk-based federal framework is the best option to provide American businesses with the certainty they need to invest in AI development and adoption and ensure our workforce is prepared to transition to an AI-empowered economy.
Earlier this year, the U.S. Chamber’s Commission on AI Competitiveness, Inclusion, and Innovation released a report and recommendations for a federal AI regulatory framework that optimizes AI’s benefits and mitigates its potential risks. Read the report here.
A National AI Privacy Standard Is Essential
November 20, 2023
A recent House Energy & Commerce Committee hearing entitled “Safeguarding Data and Innovation: Setting the Foundation for the Use of Artificial Intelligence” spotlighted the importance of balancing data privacy with the data needs of AI systems.
The Chamber advocates for Congress to establish a preemptive national data law since it would prevent a disjointed state-by-state approach, offering the market stability needed for the emerging AI-driven digital economy to flourish.
Why it matters: A national privacy standard that protects privacy while enabling continued innovation is crucial for the U.S. to continue leading in AI and secure the digital economy's benefits.
According to McKinsey & Co., AI is well positioned to be an economic growth powerhouse—potentially adding up to $4.4 trillion annually to the global economy.
Balancing act: New privacy legislation should weigh how limits on data collection could affect the fairness and legality of the outputs produced by AI. That’s because good data is essential for effective AI, and overly strict privacy could impede the development of lawful and impartial AI.
Experts agree: Stanford University's Human-Centered Artificial Intelligence (HAI) aligns with the Chamber’s sentiment and points out the tension between keeping data private and collecting enough information to ensure AI is fair and unbiased.
Global AI Leadership on Display in the UK and U.S.
November 16, 2023
A core pillar of the Chamber’s Responsible AI Business Leadership Initiative is to advance U.S. leadership in creating a global AI framework with other like-minded nations.
The UK AI Safety Summit hosted earlier this month marked a significant moment for international discourse and potential collaboration on AI safety and ethics, especially among leading AI nations—notably the UK and U.S.—that have recognized the need for concerted action to shape the global regulatory landscape around this transformative technology.
Implications for U.S. Businesses: As AI policy and ethics continue to evolve, U.S. businesses must navigate a course that aligns with policies still being written while also maintaining a competitive edge.
The Future of Global AI Leadership: Global leaders must continue to coordinate to effectively manage AI's rapidly growing impact on society and the economy. Meetings like the UK's AI Safety Summit help to forge consensus and cooperation to ensure everyone benefits from this technology.
Biden Executive Order Has Promising Priorities But Raises Concerns
November 2, 2023
The Biden administration issued an Executive Order on the Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence on Monday, outlining priorities for seizing the potential of this transformative technology and managing its risks. Chamber staff attended the signing ceremony at the White House.
The Chamber appreciates the priorities outlined in the Executive Order, such as attracting highly skilled workers, bolstering resources for intra-government coordination, and speeding up the development of standards, but there are some concerns.
- Stakeholders might not have enough time to offer input, which could result in ill-informed regulations.
- Agencies like the FTC and CFPB should not see this as an opportunity to do as they please. All agencies must continue to act within Congressional limits and abide by Supreme Court rulings.
- The Chamber’s Commission on AI Competitiveness, Inclusion, and Innovation and AI Working Group have been providing the federal government with a roadmap to a regulatory framework that optimizes AI’s benefits and mitigates its potential risks. Read the commission’s report released early this year.
- The Responsible AI Business Leadership Initiative is educating policymakers on the technology’s benefits and pushing for accountable policies.
- The Chamber has been hosting discussions – like the Global AI Forum – with industry and government leaders on the need to collaborate and establish trust in AI systems and policies.
Bottom line: It is encouraging to see several of the priorities outlined by the Chamber's AI Commission included in the EO. The Chamber looks forward to continued engagement with leaders in Washington and around the world to ensure there is a sensible path forward for responsible AI leadership at scale.
