White House officials are closely monitoring the leaders of several big tech companies deploying artificial intelligence while regulators are still assessing the safety risks associated with it. Axios Technology reporter Ashley Gold highlights how legislators and regulators are considering her net of safety to accelerate AI adoption, highlighting the degree of literacy on the subject required of lawmakers.
video transcript
– The White House is cracking down on AI security. The Biden administration has announced seven companies that are leading the way in AI. They signed agreements and commitments to ensure safety and transparency regarding technology. The White House also said it was working on an executive order on artificial intelligence, but did not release a timeline.
Our team sat down with Meta’s President of Global Affairs, Nick Clegg, from 3-5pm to discuss AI development. Here’s what he had to say:
Nick Gregg: It’s moving very fast. And, like any kind of rapidly advancing technology, which is larger than any single company or indeed any single country, there is always the natural question of how to strike the right balance between advancing rapidly and acting responsibly in these innovations.
And I think all companies, including Meta, agree on that. We want to strike the right balance to move forward. These US companies are truly world leaders in this technology. But doing so in a way that makes people feel transparent allows people to see for themselves how these systems work.
– For more information on this point, please contact Axios Technology reporter Ashley Gold. Ashley, it’s an honor to talk to you about this this morning. This issue has also been reported. So, is there any more clarity on that at this point, perhaps as to the timeline for when the Executive Order will be issued?
Ashley Gold: No, nothing more specific than that at this point. But if I had to guess, they’d probably want to announce something during the August recess before Congress resumes in earnest this fall. Senate Majority Leader Chuck Schumer has his own plans for AI legislation. And while we know the White House wants to coordinate with Congress, it also seems that they really want to appear to be ahead of the curve when it comes to regulating AI.
– So what does that mean, Ashley, I guess that’s the question, right? That’s a question for them. That’s a question for us. That’s a problem for the companies involved. But are things converging around certain priorities as this dialogue is going on?
Ashley Gold: Various ideas are being thrown at the wall right now. We see lawmakers introducing legislation to create a regulatory body dedicated to AI and digital platforms. Legislation is being drafted to require certification of AI systems and impose fines for not following certain rules. Lots of ideas floating around.
Everyone is united in the idea that the risk of an AI system will determine how much regulation applies, and the size of a company should also help determine what level of regulation it receives. But other than wanting to strike the right balance on the hard stuff that everyone agrees on, as is often the case, there really isn’t much clear agreement yet.
– These companies, some companies, are due to report earnings this week, and we’ll be discussing that in detail this morning. I won’t get into the numbers too much, but you’ve probably had that level of conversation with them about what they’d like to see more regulated within AI and what they have to say about how that might affect their business. What does it say about what kind of regulation they want, and perhaps on what timeline they want to see it?
Ashley Gold: I think they all want regulation because the uncertainty is so high right now. And with clear regulations they can plan for, there will be more clarity within the business. they could plan it. They were able to secure funds for it.
At the moment they have no idea how much this will cost. This means companies spend a lot of money to comply with Europe’s major technology regulations, DMA and DSA. So, especially for small businesses, we want to be able to take that into account right away, before it significantly hurts their bottom line.
– Of course, they’re doing this at the same time they’re pushing AI in earnest, right? It’s almost a week before we hear from Microsoft. Hear from the alphabet. And arguably, much of the discussion will revolve around AI. For investors, regulation doesn’t seem to get a lot of attention at this point. They just want to hear push, push, push.
Ashley Gold: Absolutely. So part of this is that the tech industry has just learned a very big lesson after social media started getting a lot of backlash and lawmakers called for regulation. They saw how the game was played. Meta, YouTube, Twitter, Snap and TikTok didn’t work. And they’re out in front of it. They know there will be calls for regulation. So they want to be in it from the beginning and can play a big role in what it ends up being. So they are strategically here trying to make their relationship with Washington kind of positive from the start.
– that’s right. OK. Now, from here on out, is it clear that Congress has a clear understanding of the implications of artificial intelligence? That’s because technology of all kinds has lagged behind, whether it’s cryptocurrencies, blockchain, or other forms of social media that we’ve had to evaluate in recent years. There seems to be a knowledge gap in trying to understand it right away. Could they have made it this far with artificial intelligence?
Ashley Gold: So they are definitely working on it. I know Senate Majority Leader Chuck Schumer wants lawmakers to feel well-informed on the subject. That’s why he’s been giving senator-level press conferences with experts over the past few months. And in the fall, he will begin a series of roundtables, which, like public hearings, will not be open to the public and will hear from a large number of witnesses, but I have to worry that I will look a little silly when I ask technical questions. These will be more casual questions for members of parliament, and they will be able to read the contents with confidence. Of course, they won’t be AI experts in a few months, but there’s been a considerable concerted effort to get lawmakers to understand the subject as best they can.
– yes. When we occasionally see hearings like this or some of the comments by them that we all get to see, it’s always good for at least some comedic relief. Ashley, nice to meet you. thanks so much. Ashley Gould, Axios Technology reporter. appreciate.
Ashley Gold: thank you.
