Should there be an establishment of a fresh AI regulator in the United States?

Should there be an establishment of a fresh AI regulator in the United States?

A significant proposal is under consideration in the United States: the establishment of a new regulatory agency for overseeing artificial intelligence (AI). This agency, if implemented, would be responsible for developing safety regulations for AI systems, aiming to ensure their safety, security, and effectiveness.

On June 6, 2023, from 1:00 PM to 2:00 PM (EDT), a webinar will be held by the Center for Data Innovation and R Street Institute to discuss the potential costs and benefits of creating this new AI regulator. The event will feature speakers such as Adam Thierer, Senior Fellow at R Street Institute, Ben Shneiderman, Emeritus Distinguished University Professor at the Department of Computer Science, University of Maryland, Shane Tews, Nonresident Senior Fellow at the American Enterprise Institute, Lee Tiedrich, Distinguished Faculty Fellow in Ethical Technology at Duke University, and Daniel Castro, Director of the Center for Data Innovation, who will serve as the moderator.

The webinar aims to explore the complex trade-offs involved in creating a new AI regulator, including its impact on innovation, compliance, economic efficiency, and accountability.

One of the benefits of such a regulator could be the establishment of clear, consistent federal rules. This consolidation would likely boost AI adoption, enabling greater cost savings and more efficient deployment of technology, particularly in infrastructure sectors like broadband. A focused regulator could also balance promoting innovation with responsible AI governance, helping maintain U.S. national competitiveness amid global AI advancements.

However, there are concerns about the potential costs. Establishing a new agency entails significant governmental expenditure and could increase compliance costs for companies, particularly smaller ones with limited resources. There is also a risk of over-regulation, which might stifle innovation and delay AI benefits.

The webinar will also delve into additional tools and resources needed to hold companies accountable for their AI use. These include clear, adaptable regulatory frameworks, enhanced transparency and reporting requirements, robust enforcement mechanisms, interagency coordination, and investment in expertise and infrastructure.

Questions for the speakers can be asked online during the webinar, and attendance can be secured by registering for the event. This webinar promises to provide valuable insights into the debate surrounding the proposed AI regulator in the United States, shedding light on the potential benefits, costs, and the necessary measures to effectively hold companies accountable for their AI use.

[1] Carlson, J., & Tucker, J. (2020). The Economic Impact of AI Adoption in the U.S. Center for Data Innovation. [2] Castro, D., & Tucker, J. (2020). AI and Healthcare: Opportunities and Challenges for the U.S. Healthcare System. Center for Data Innovation. [3] Castro, D., & Tucker, J. (2021). AI Regulation in the U.S.: A Balancing Act. Center for Data Innovation. [4] Castro, D., & Tucker, J. (2022). AI Regulation in the U.S.: A Framework for Responsible AI Governance. Center for Data Innovation.

1. The potential establishment of a new regulatory agency for overseeing artificial intelligence (AI) signifies a significant proposal under consideration in policy-and-legislation, with the aim of developing safety regulations for AI systems.
2. In light of the proposal, a webinar organized by the Center for Data Innovation and R Street Institute delves into the complex trade-offs involved, specifically the impact on innovation, compliance, and economic efficiency.
3. Some benefits of such a regulator could be the establishment of clear, consistent federal rules, which could boost AI adoption, leading to greater cost savings and more efficient deployment of technology, particularly in infrastructure sectors.
4. However, there are concerns about the potential costs, including significant governmental expenditure, increased compliance costs for companies, and a risk of over-regulation that might stifle innovation and delay AI benefits.
5. The webinar also discusses additional tools and resources needed to hold companies accountable for their AI use, such as clear, adaptable regulatory frameworks, enhanced transparency and reporting requirements, robust enforcement mechanisms, interagency coordination, and investment in expertise and infrastructure.

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