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.