New Bill Introduced to Regulate Artificial Intelligence

Dear subsrcirbers,

Hey there!

This morning we bring some exciting news! Following OpenAI CEO Sam Altman's recent testimony, a US senator has introduced a bill to regulate artificial intelligence. Senator Michael Bennet unveiled an updated version of the legislation that aims to establish a Federal Digital Platform Commission. This commission would oversee AI products and companies that generate content using algorithmic processes.

The bill intends to ensure that major tech companies face similar regulations as small businesses. Senator Bennet emphasized the need for oversight as technology impacts our democracy and children's mental health. He believes that an expert federal agency is necessary to protect the public interest and ensure AI tools and digital platforms operate responsibly.

The updated bill expands the commission's authority over the use of personal data in generating content and decision-making processes, particularly with regards to generative AI, like OpenAI's popular ChatGPT chatbot. It also includes requirements for algorithmic audits and public risk assessments for "systemically important" platforms.

This bill highlights how Congress is actively preparing to regulate cutting-edge technologies like AI. The debate on establishing a separate federal agency to oversee AI tools is gaining momentum. Although specific licensing programs were not mentioned in the bill, it directs the commission to design appropriate rules for industry oversight.

While some lawmakers support the idea of a specialized regulator for internet companies, others caution against creating a new bureaucracy. Concerns were raised about the potential for regulatory capture, where industries exert undue influence over government agencies. Proper support and scientific expertise are crucial for the effectiveness of any agency.

Stay tuned for more updates on the progress of this bill!

Sincerely,

Tech Insider

Read more here:

"CNN Business: Bennet unveils updated bill to establish Digital Regulator for AI." CNN, 18 May 2023, www.cnn.com/2023/05/18/tech/bennet-digital-regulator-bill-ai-provisions/index.html.