AI and Tech Big Shots Weigh Artificial Intelligence Risks & Regulations on Capitol Hill

2023-9-14 10:15

In a recent Senate hearing, tech tycoons and AI experts convened on Capitol Hill to weigh the risks and regulations of artificial intelligence (AI).

Elon Musk, CEO of several tech companies, underscored the potential dangers of AI, stating,

“There’s some chance – above zero – that AI will kill us all. I think it’s low but there’s some chance.”

Musk Sees AI as a ‘Civilizational Risk’

Musk’s warning resonated in the Senate chambers, emphasizing the gravity of the situation. The gathering, organized by Senate Majority Leader Chuck Schumer, was the first of nine sessions aimed at developing consensus for upcoming AI legislation.

The attendees, high-profile tech CEOs, civil society leaders, and senators, unanimously agreed on the need for federal oversight of AI.

Number of AI-related bills in the United States. Source: Stanford University

However, the challenge for Congress is balancing promoting AI’s benefits while mitigating its societal risks. These risks include technology-based discrimination, threats to national security, and, as Musk pointed out, “civilizational risk.”

Read more: The 6 Hottest Artificial Intelligence (AI) Jobs in 2023

Interestingly, all attendees raised their hands when asked whether the federal government should oversee AI, according to Schumer. However, consensus on the specifics of this oversight and legislation remained elusive.

The attendees highlighted the potential of AI to address global issues such as hunger, while others advocated for significant investment in “transformational innovation.”

A Push for AI Regulations and ‘Copilots’

Washington Democratic Sen. Maria Cantwell encapsulated the sentiment of the hearing, stating,

“When it comes to AI, we shouldn’t be thinking about autopilot. You need to have copilots.”

The tech industry leaders also echoed the need for increased federal investment in research and development, skilled immigration, and education. However, the discussion on the establishment of a new federal agency to regulate AI was noticeably absent, according to Cantwell.

Musk, after the event, suggested that a standalone agency to regulate AI is likely at some point. This aligns with the growing awareness of policymakers about how AI, especially generative AI popularized by tools like ChatGPT, could potentially disrupt business and everyday life.

Read more: ChatGPT Tutorial: How To Use ChatGPT by OpenAI

The session at the US Capitol in Washington also offered the tech industry a significant opportunity to influence how lawmakers design the rules that could govern AI. This landmark meeting may indeed, as Musk stated,

“Go down in history as being very important for the future of civilization.”

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
This article was initially compiled by an advanced AI, engineered to extract, analyze, and organize information from a broad array of sources. It operates devoid of personal beliefs, emotions, or biases, providing data-centric content. To ensure its relevance, accuracy, and adherence to BeInCrypto’s editorial standards, a human editor meticulously reviewed, edited, and approved the article for publication.

The post AI and Tech Big Shots Weigh Artificial Intelligence Risks & Regulations on Capitol Hill appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

POLY AI (AI) на Currencies.ru

$ 9.75E-5 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $9.75E-5 - H: $9.75E-5
Капитализация $223 Rank 99999
Доступно / Всего 2.282m AI

risks regulations tech specifics discuss agreeing hearing

risks regulations → Результатов: 70


The world’s first comprehensive framework for crypto regulation has been approved by lawmakers in the EU.

The European Parliament has passed a comprehensive set of regulations aimed at the cryptocurrency industry, making it the first of its kind in the world. The legislation, known as the Markets in Crypto Act or MiCA, aims to reduce risks for consumers purchasing crypto assets by holding providers liable for any loss of investors’ crypto-assets.

2023-4-22 13:45


Фото:

UNCTAD Report Pegs India’s Crypto Adoption at 7.3%, Kicks off Debate about Regulation

A recent UNCTAD policy brief says every seventh person in India held a cryptocurrency in 2021, and the largescale adoption in absence of regulations poses risks of financial instability. Released on August 12, the UNCTAD report sparked a fresh debate about India’s crypto regulation bill that the government planned to bring to parliament at least twice last […]

2022-8-26 00:37


Фото:

Sri Lanka’s Central Bank Warns The Public Against Crypto Purchases Despite The Economic Crisis

The Central Bank of Sri Lanka has warned the public against engaging in crypto-related activities citing the lack of regulations and accompanying risks. For the third time in less than three years, the bank stated on Tuesday that it had not issued any license or authorization to any firm to operate schemes involving Bitcoin or […]

2022-7-19 00:11


UK Treasury Strengthens Regulations Around Stablecoins Following UST Collapse

In response to the recent collapse of controversial crypto project Terra, Britain is looking into ways to ensure stablecoins don’t threaten their wider financial system. Her Majesty’s Treasury printed a new consultation paper on Tuesday, May 31, 2022, regarding minimizing the risks of the possible collapse of stablecoins and many more digital currencies by utilizing […]

2022-6-2 01:06


Фото:

US Lawmakers Caution Against Regulations Restricting Use of Self-Hosted Crypto Wallets

Four U. S. lawmakers have sent a letter to Treasury Secretary Steven Mnuchin, warning of the risks of restricting the use of self-hosted cryptocurrency wallets. Their concerns follow reports that the Treasury Department may be on the verge of imposing such strict cryptocurrency regulations aimed at self-hosted crypto wallets.

2020-12-13 22:30


Stablecoin regulations would need to eliminate risks regarding liquidity of underlying assets, claims IMF

As Central Banks across the world start looking into cryptocurrencies and DLT to see how feasible a fiat-backed digital currency would be, the IMF (International Monetary Fund) has now entered the conversation as well, publishing a blog post exploring the advantages of a privately issued stablecoin, one which is backed by central bank reserves.

2019-9-28 18:30


Pakistan Regulates Cryptocurrency to Prevent ‘Terrorism Financing’

Pakistan has announced plans to regulate cryptocurrencies in accordance with recommendations of the Financial Action Task Force (FATF). The regulations will be introduced immediately. Pakistan embraces digital currencies reluctantly Pakistan had previously taken a hard stance against cryptocurrencies, with the country’s central bank warning banks and other financial services providers against offering services that supported virtual currency transactions.

2019-4-1 12:04


Switzerland’s Parliament Approves Motion for Cryptocurrency Regulations

The Swiss Federal Assembly, which handles government legislation, approved on March 20th a motion directing the Federal Council to regulate cryptocurrencies. Switzerland has long been recognized as a leading hub of blockchain and cryptocurrency technology, with the Swiss town of Zug internationally referred to as “Crypto Valley.

2019-3-21 15:52


Фото:

Moonday Morning: Bitcoin dev ordered to prove Craig Wright isn’t Satoshi

It’s Monday which means it’s Moonday Morning and time to catch up with the top news from over the weekend. Let’s get to it. 1. Canadian financial regulators are learning from the QuadrigaCX debacle and are taking action to begin regulating cryptocurrency exchanges to mitigate the risks associated with virtual currency exchanges.

2019-3-18 12:36