Worried Over Potential Job Losses, US Congress Gears up to Regulate AI

The United States Congress is considering regulations for the development of artificial intelligence (AI) as fears grow that the new technology could destroy jobs and destabilize the economy.

A number of bipartisan bills have been introduced in Congress, with lawmakers discussing the potential use of AI for malicious purposes, such as discrimination and surveillance.

Capitol Hill has seen several debates about AI in recent months. Congress members have been traveling to Silicon Valley to meet with industry leaders such as Microsoft President Brad Smith, whose company has invested US$1 billion in OpenAI, creator of ChatGPT.

OpenAI CEO Sam Altman appeared before a US Senate committee in June and urged lawmakers to establish an agency similar to the Food and Drug Administration (FDA) to monitor AI development across the country.

regulation should take effect above a capability threshold.

AGI safety is really important, and frontier models should be regulated.

regulatory capture is bad, and we shouldn't mess with models below the threshold. open source models and small startups are obviously important. https://t.co/qdWHHFjX4s

— Sam Altman (@sama) May 18, 2023

Over the past few years, there have been many AI-related bills proposed to Congress, but none have been signed into law. However, some legislative bills are likely to be passed this year.

One prominent bill is the Artificial Intelligence Act, which would create a new federal agency to oversee the development and use of AI. The bill would also require companies to disclose how they use AI and to take steps to mitigate the risks of AI bias and discrimination.

Another bill, the Algorithmic Accountability Act, would require companies to be more transparent about how they use algorithms. The bill would also give consumers more control over their data and make it easier for them to challenge algorithmic decisions.

Analysts say it is still too early to say what kind of AI regulations will eventually be enacted by Congress, as discussions are ongoing and there is no clear consensus on any particular bill.