How the U.S. government is regulating AI

107340951 1701292476344 gettyimages 1246184939 OPENAI CHATGPT

107340951 1701292476344 gettyimages 1246184939 OPENAI CHATGPT

The U.S. government is considering implementing laws to assist society in adjusting to the rise of artificial intelligence. Users of this technology are already experiencing improvements in labor productivity. For instance, Klarna, a provider of buy now, pay later financial services, anticipates a $40 million profit increase by 2024 thanks to its AI assistant tool.

Klarna’s AI assistant relies on OpenAI’s systems, which power popular products like ChatGPT and Sora. In 2023, Congress engaged in discussions with tech industry leaders, including OpenAI CEO Sam Altman, to understand the risks and benefits associated with AI. The White House secured voluntary commitments from leading AI companies to help lawmakers navigate this new landscape.

While the Senate Task Force on AI has passed several bills focusing on research and risk assessment, the U.S. regulatory environment seems less stringent compared to measures enacted by the European Union in 2024. Concerns about the impact of AI on job prospects, particularly for white-collar workers, have prompted discussions on the introduction of robot taxes in some states.

Economists have suggested that any robot taxes should be set at a low rate to avoid stifling innovation and productivity. Despite the potential for robots to take on many human tasks in the future, technological growth and productivity enhancements remain key benefits of AI.

To learn more about the U.S. government’s efforts to regulate artificial intelligence, watch the video linked above.

The U.S. government is considering laws to help society adapt to the introduction of artificial intelligence, with early users of the technology already seeing labor productivity gains. For example, Klarna’s AI assistant tool is expected to increase profit outcomes by $40 million by 2024. Congress has convened panels with high-profile tech executives like Sam Altman to understand risks and make use of new technologies. The Senate Task Force on AI has passed 15 bills focusing on research and risk assessment, but the U.S. regulatory environment is relatively relaxed compared to the European Union. Economists have expressed concerns about job prospects with the widespread adoption of AI. In New York, lawmakers have proposed robot taxes to limit tech-driven layoffs, with experts suggesting a relatively low tax rate. However, researchers at MIT believe robots are part of boosting technological growth and productivity. Despite concerns, there is a consensus that a future where robots can do most human tasks is still far away.

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