Sen. Mike Rounds of South Dakota has urged federal regulators to wait for Congress to take action before implementing regulations on artificial intelligence (AI). This comes as President Biden’s administration prepares to sign an executive order on AI in the coming months.
Tension between Congress and the Biden administration over AI policy has become more apparent, with a Senate Banking Committee hearing highlighting the impact of AI on financial services.
Sen. Rounds emphasizes the need for regulations that promote innovation and prevent China from dominating the tech market. He believes that halting progress in AI can be dangerous in the face of global competition.
President Biden has actively expressed his intention to address AI through executive action.
Meanwhile, the Cybersecurity and Infrastructure Security Agency is also preparing for the president’s AI executive order. The director of the agency, Jen Easterly, has focused on the role of AI in cybersecurity and expressed skepticism regarding generative AI tools for cyber defense.
The concerns regarding AI’s impact on national security and the financial sector have been highlighted in both the Senate Banking Committee and the Senate Select Committee on Intelligence. Senate Banking Committee Chairman Sherrod Brown warns against the dangers of moving fast without considering the consequences for the financial system and the economy.
AI’s accessibility and commercial utility have rapidly increased, and policymakers are working to keep up. President Biden’s team is seeking voluntary commitments from leading AI companies on safety issues as they work towards implementing new executive action this year.
However, Congress may not vote on AI legislation this year, which means the process is proceeding at a slower pace.
It remains to be seen how the Biden administration’s executive order on AI will shape regulatory actions and the future of AI in the United States.
Focus keyword: AI regulation
