The US jumps into the AI Regulation Game.

President Biden has signed his first Executive Order on Artificial Intelligence (AI), and I am happy to see it. The US is lagging behind the EU (as we often do) when it comes to safeguarding the use of data. The EU AI Act is primarily focused on the risk levels of the solutions to determine how and what needs to occur. Once ratified, financial penalties will be earth-shaking for companies that don’t adhere to the rules; think GDPR penalties on steroids. Today’s announcement in the US was focused on testing, labor research, civil rights guidance, and safety assessment requirements and transparency. Here’s a link to see the details

Here’s how it is broken down:

• Creating new safety and security standards for AI.
• Protecting consumer privacy.
• Advancing equity and civil rights.
• Protecting consumers overall.
• Supporting workers.
• Promoting innovation and competition.
• Developing guidance for federal agencies’ use and procurement.

Fifteen leading AI companies have signed on to commit to the guidelines voluntarily. It is clearly a good starting point, but it won’t be enough to force companies to behave. The US will need to pass legislation with well-defined penalties to stop companies from “over-innovating” with data and AI. A balance will need to be struck between consumer protection and new innovative ways to interact with this disruptive technology.