*United States President Joe Biden has signed a fresh Executive Order as the American country attempts to help regulate and place controls on models of concerning Artificial Intelligence, to spur innovations, address concerns the emerging technology could exacerbate bias, displace workers, and threaten national security

Gbenga Kayode | 绿帽献妻

Sequel to United States President Joe Biden’s signing a fresh Executive Order concerning Artificial Intelligence (AI) Monday, October 30, 2023, the development signals the Federal Government鈥檚 attempt to help regulate and place controls on this rapidly evolving and growing technology in the global digital ecosystem.

绿帽献妻 gathered the US Government’s latest move would regulate AI models that could threaten the country’s national security.

Technology companies are largely applauding the new regulation, which seeks to govern how the Federal Government will use AI and establish guidelines for companies building new models.

The new measure marks 鈥渢he US Government鈥檚 most ambitious attempt to spur innovation and address concerns the burgeoning technology could exacerbate bias, displace workers and undermine national security,鈥� according to the Washington Post.

In terms of investments in AI, the 2023 Generative AI Radar report from Infosys indicates the firms in the US and Canada are projected to invest $5.6 billion in Generative AI projects鈥攖hose that can create text, images and other media鈥攊n the next 12 months.

US attempts to control fast-growing AI industry

President Biden鈥檚 Executive Order is directed 鈥渁t numerous government agencies to create regulations overseeing AI,鈥� report said.

Eric von Vorys, an attorney who specialises in AI and intellectual property issues at the Shulman Rogers law firm, reportedly聽 said via e-mail communication that the Presidential regulation would also create 鈥渘ew standards to (among other things) safeguard data privacy and cybersecurity, strengthen national security, and administer governmental standards in order to try to control a fast-growing industry.”

von Vorys, however, observed the Executive Order 鈥渋s not a law. I haven鈥檛 heard that Congress has any plans to pass any similar laws.’

Funding opportunities for research

Ask part of the likely objectives of the administration’s Executive Order, Jake Williams, a member of IANS research, a Boston-based cybersecurity and advisory firm, also stated via e-mail: “Perhaps the most significant contribution of the executive order is dedicating funding for research into privacy-preserving technologies with AI.

鈥淭he Biden Executive Order makes it clear: privacy, equity, and civil rights in AI will be regulated.

“In the startup world of 鈥榤ove fast and break things,鈥� where technology often outpaces regulation, this executive order sends a clear message on the areas [where] startups should expect more regulation in the AI space.”

A push for global cooperation in AI ecosystem

James Hendler, Chairman of the Global Technology Policy Council of the Association for Computing Machinery, via e-mail likewise remarked that the US Government’s measure 鈥減ushes for global cooperation in AI which is critically important.

鈥淭he UN has recently announced an international panel of experts looking at AI policy, including representatives of countries with many different types of government regimes, and this order should reinforce US awareness of activities such as these.”

Impact in trillions of Dollars regarding government contracts

The Federal Government 鈥渋s the largest procurer of vendor services in the US,鈥� Dominique Shelton Leipzig, a partner and cybersecurity and data privacy leader with Mayer Brown, said via e-mail.

Leipzig stated that Monday’s Executive Order 鈥渨ill directly impact trillions of Dollars in government contracts.

“It goes well beyond IT to include life sciences, defence contracts, landlords, and more.

Besides, to give a sense of scale, the US Government spent $2 trillion on IT services alone last year.n”

Leipzig also explained that the company 鈥渋s (1) a recipient of federal funds; (2) part of critical infrastructure (health, financial, energy, food supply);

(3) a government contractor; or (4) a supplier to any of [these] companies鈥�their leaders need to pay attention.

Biden鈥檚 Executive Order to ‘provide little direction鈥�

Kjell Carlsson, Head of Data Science Strategy at Domino Data Lab, as well stated via e-mail: “Rather than proposing regulation or specific actions鈥� the order is mainly a call to action for different departments to start the process of formulating regulations and guidelines for AI.

鈥淭he order provides little direction on what regulation may look like, what the time frame would be for its implementation, or, indeed if regulation will be the ultimate outcome.”

“The US lags behind the EU and even China in the regulation of AI,鈥� Stephen J. Andriole, the Thomas G. Labrecque Professor of Business Technology at Villanova University鈥檚 School of Business, said via e-mail.

Andriole submitted that “Excutive orders are fine, but what’s required is a more comprehensive set of enforceable regulations that protects privacy and guards against misinformation and disinformation at the very least.

鈥淲hile it’s great to try to show the private sector how to manage its approach to AI management, there’s not much evidence that voluntary commitments or self-governance work.”

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