Biden administration aims to regulate AI technology

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The European Union is considering the AI Act to establish a legal framework for regulating the development and use of AI. The Act will classify AI systems by risk and impose strict penalties for non-compliance. Four risk tiers include unacceptable, high, limited, and minimal. Unacceptable-risk AI would be prohibited, while high-risk AI systems, such as autonomous vehicles and medical devices, would be permitted with strict regulations. The European Parliament is discussing the legislation, and an Artificial Intelligence Board will be established to oversee its implementation.

Today, President Biden is meeting with leading architects of generative AI to discuss the government’s upgraded AI expertise and role, focusing on establishing guardrails for the technology. The President urges Big Tech companies like Google and Microsoft to ensure their AI products are safe before public release.

Business leaders and tech experts believe that legislation is urgently needed to regulate the development and use of AI technology as it advances rapidly. Concerns around AI technology include cybersecurity and biosecurity and ensuring that the public is protected from any harm caused by the technology. However, balancing innovation and regulation is challenging, with AI creators struggling to understand how their systems function.

Last year’s Biden administration chip-export controls aimed to give the US an advantage in the technology race with China, particularly in AI, while also being concerned about China’s use of AI for military purposes. The US is also collaborating with its allies on export control measures.

A combination of government funding and venture capital investment drives AI development in China. Major Chinese tech companies like Baidu, Alibaba, and Tencent are investing heavily in AI. In addition, China’s population is the largest in the world, which provides a massive amount of data that can be used to train AI algorithms.

Chinese companies can often collect and use personal data as they have a less restrictive regulatory environment than the US and Europe, which further contributes to the country’s vast data resources for AI development.

The US government is working to monitor the threats of new tech, including AI, and is pushing allies and partners to ensure AI technology benefits the public. However, achieving a balance between innovation and regulation remains a challenge.