U.S. Chamber of Commerce calls for AI regulation
Reuters
Published Mar 09, 2023 06:07AM ET
Updated Mar 09, 2023 05:12PM ET
WASHINGTON (Reuters) - The U.S. Chamber of Commerce on Thursday called for regulation of artificial intelligence technology to ensure it does not hurt growth or become a national security risk, a departure from the business lobbying group's typical anti-regulatory stance.
While there is little in terms of proposed legislation for AI, the fast-growing artificial intelligence program ChatGPT that has drawn praise for its ability to write answers quickly to a wide range of queries has raised U.S. lawmakers' concerns about its impact on national security and education.
The Chamber report argues policymakers and business leaders must quickly ramp up their efforts to establish a "risk-based regulatory framework" that will ensure AI is deployed responsibly.
It added that AI is projected to add $13 trillion to global economic growth by 2030 and that it has made important contributions such as easing hospital nursing shortages and mapping wildfires to speed emergency management officials' response. The report emphasized the need to be ready for the technology's looming ubiquity and potential dangers.
The report asserts that within 20 years, "virtually every" business and government agency will use AI.
A product of a commission on artificial intelligence that the Chamber established last year, the report is in part a recognition of the critical role the business community will play in the deployment and management of AI, the Chamber said.
Even as it calls for more regulation, the Chamber is careful to caveat that there may be broad exceptions to how regulation is applied.
"Rather than trying to develop a one size-fits-all regulatory framework, this approach to AI regulation allows for the development of flexible, industry-specific guidance and best practices," the report says.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.