On October 30, 2023, President Biden issued an executive order to set new standards for the safety and security of Artificial Intelligence.
What the executive order means for the future of AI. Since the middle of 2022, AI has quickly infiltrated almost every industry.
The rapid evolution in AI technology has led to a huge boom in business opportunities and new jobs - early reports suggest AI could contribute nearly $16 trillion to the global economy by 2030.
The lengthy document provides a sweeping set of regulatory principles.
With more AI-generated content created by the day, it's becoming more challenging for the general public to discern between what is real and what is not.
This executive order places great emphasis on recruiting AI talent, ensuring America becomes the leading destination for the most skilled leaders in their field.
From changes to visas and green cards to investments in resources, tools and infrastructure, there's a clear focus on making America a leader in the AI revolution.
Although the EO places potential restrictions on developers and companies alike, it encourages investment in the space.
There is immense potential to democratize AI advancements, giving people and private companies more autonomy rather than relying on major tech companies.
With proper regulations, the government can drive more innovation with AI technology to prioritize societal benefits.
Explore AI solutions What the executive order is missing.
While there is a lot of optimism around this announcement from the Biden administration, there are skeptics.
It leads us to wonder what is missing and the potential obstacles the EO faces.
Many analysts fear the EO will become nothing more than words that appear strong but have no practical merit.
There is also little clarity on how the rules will be enforced - especially compared to the European Union AI Act, which enforces significant fines for those failing to meet standards.
As AI continues to advance, there's a fine line for legislators to protect the people without stifling innovation.
The consensus is that although this EO provides positive steps forward, it lacks enough detail to achieve its ambitious goals.
There's no doubt that the exponential rise of AI is set to continue.
Although it will lead to massive opportunities, this technology is an area that needs clear and significant regulation.
The executive order from the Biden administration is the first meaningful step, although one that is very much a work in progress.
This Cyber News was published on securityintelligence.com. Publication date: Mon, 11 Dec 2023 15:58:04 +0000