Cato Daily Podcast
Biden's Big, Early Move to Regulate Artificial Intelligence
Nov 2, 2023
Jennifer Huddleston and Jack Solowey discuss the implications of Biden's executive order on regulating AI, including the need for a new regulatory framework, existing laws addressing AI risks, and bias mitigation. They also explore balance between regulation and technological growth and ongoing debates in Congress.
13:00
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Quick takeaways
- The Biden administration's executive order on AI risks prematurely fitting the technology into a regulatory box and hindering innovation by assuming risks without assessing their validity.
- The focus on AI harms in the executive order overlooks the potential beneficial applications of AI and may create regulatory barriers that hinder technological access, striking a balance between addressing risks and promoting innovation is essential.
Deep dives
Premature Regulation of Emerging AI Technology
The Biden administration's 100-page executive order on artificial intelligence (AI) raises concerns about prematurely fitting the technology into a regulatory box. The order assumes risks and harms without sufficiently assessing their validity, potentially hindering the light-touch approach that allowed the US to be an innovative leader. The administration's attempt to get ahead of the technology could be premature and overlook the possibility of beneficial AI applications. The existing laws and regulations already cover many potential risks and harms associated with AI, such as fraud and discrimination, and it is the bad actors using the technology that should be held accountable, not the technology itself.
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