The US Chamber of Commerce's recent call for regulation of artificial intelligence (AI) technology marks a significant shift in stance for the country's largest lobbying group. While the Chamber has traditionally been anti-regulatory, it is now expressing concerns about the impact of AI on national security and business growth.
The Chamber's report states that AI technology is increasingly being used by all important actors in the economy and society, domestically and globally. By the end of the decade, AI is projected to increase global economic growth by $13 trillion. The report acknowledges the positive impact of AI on healthcare, emergency management, financial inclusion, and job creation, but also highlights concerns about the impact of AI on workers and the need for policies to ensure responsible and ethical deployment of AI.
The report also notes the efforts of America's competitors, particularly China, in establishing dominance through the development of emerging technologies. In response, the US Chamber of Commerce is calling for deliberative and sober discussion to create appropriate policies for the development and deployment of AI.
One of the areas where AI is rapidly growing is in the use of chatbots, such as ChatGPT. The report predicts that within 20 years, virtually every business and government agency will use AI. However, the report also cautions against developing a one-size-fits-all regulatory framework, and instead advocates for flexible, industry-specific guidance and best practices.
While the US Chamber of Commerce's call for regulation of AI is a welcome development, there are still concerns about the technology's potential negative impact. Last month, the head of Google's search engine cautioned about chatbot "hallucination," where machines deliver convincing but completely fictitious answers. This highlights the need for continued monitoring and regulation of AI technology to ensure its responsible and ethical deployment.
The US Chamber of Commerce's call for regulation of AI technology marks an important shift in stance for the lobbying group. While there are still concerns about the impact of AI on national security and business growth, the Chamber's report acknowledges the positive impact of AI on various sectors. However, it is essential to have appropriate policies that ensure responsible and ethical deployment of AI technology. The flexible, industry-specific guidance and best practices proposed by the Chamber could provide a way forward for the development and deployment of AI.