How to Navigate Biden’s New Standards for AI Safety
Uncover the potential changes in AI regulation and its direct effects on businesses and society.
David Ly, CEO of Iveda, delves into how President Biden’s AI Executive Order creates guardrails to protect citizens without hindering continued innovation in the space.
At the end of 2023, the European Union announced its official AI Act, marking the first official regulatory action on artificial intelligence. While the EU’s AI act positions it as a standard-setter, 2024 will likely bring about ongoing conversations across innovators in space, not to mention among the 27 EU nations and their leaders. The delicate balance of continued innovation and harm prevention could challenge certain AI regulation aspects. Ultimately, we will need more time to understand better and measure how the technology is being regulated –– and if it’s working.
Artificial intelligence is not a new concept; the widespread coverage of new applications and use cases has citizens and lawmakers worldwide worried about the tech’s potential risks and downfalls. Each nation will have to decide whether to regulate artificial intelligence. For now, countries like the United States are setting the tone for how artificial intelligence should be governed by providing new standards for safety and security.
In October 2023, when President Biden announced his executive order on artificial intelligence, he understood that the government would have to work hand-in-hand with tech companies to mollify the risks of AI and to protect American citizens from the potential pitfalls of the technology. The ultimate purpose of the executive order is to bolster the safety and security of artificial intelligence and to hold leaders accountable for how their organizations are developing and distributing AI to consumers across the nation.
Businesses and their leaders will be required to share safety test outcomes with the government to certify that AI will not cause harm to the American people. For example, suppose a company is producing autonomous drones. In that case, the organization must report to the government to validate that the drone will not affect national security or privacy before the product is made public.
To that effect, one of the biggest takeaways from Biden’s AI executive order is to protect Americans’ privacy by limiting the personal information AI collects, especially regarding children and minors. Privacy concerns have always been prevalent in the States, and AI can take these up a notch when put into the wrong hands. While the average business is not looking to exploit consumers or steal personal information, regulators must still consider those who will use AI for malicious purposes by causing harm to individuals or the nation at large.
However, passing specific laws on this matter is still up to Congress, and it could take years before concrete policy is passed. Until there is a major incident or extensive research, we must instill our trust in the organizations developing AI to monitor for risks and act on their own accord.
For now, the guardrails that have been put in place by Biden’s Executive Order are just enough. It’s up to the professionals and private organizations innovating in AI to protect themselves and those whom the technology may impact. Governments and regulatory bodies are recognizing the importance of AI and are working on establishing additional frameworks to guide its ethical and responsible development and use. This regulatory clarity should encourage businesses to invest in AI technologies while remaining ethical.
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Separating AI Fact From Fiction
The fear of sci-fi robots taking over the world has been embedded into our minds through pop culture, movies, and social media. And while we may have no real-life examples of this type of incident to point to, the concerns persist.
That said, we are in the midst of a great transformation in the AI space, making it the perfect opportunity for leaders to educate the public and our nation’s leaders about what AI truly is and what it is not (a helping hand and critical force multiplier across industries vs. something that will inevitably take over the world).
Allow the AI To Mature and Evolve
As government regulations are continuously discussed – and likely passed in the near future – we must pause to ensure that AI has substantial room to evolve into a tool used to progress society without hindering innovation and creativity. From a personal perspective, giving AI the time necessary to mature before rushing to regulate it is vital. When using AI tools today, caution is necessary, but we must avoid policing things that don’t need policing.
The Impact of a Robust Framework for Responsible AI
As businesses continue to develop the next wave of AI tools and solutions, it will be necessary for leaders to create their own AI frameworks that can define how they are developing responsible AI. Businesses can set industry standards without government intervention by committing to responsible AI development and self-regulation. Collaboration of major AI businesses is essential to addressing the public’s concerns and developing AI responsibly and ethically soundly.
Allow AI To Create the Next Wave of Prosperity
With consumers becoming more familiar and open to AI products and services – in both their work and everyday lives – we’re seeing an increased demand for businesses to integrate the technology into more of their offerings.
As such, AI is transforming the job market, with automation and machine learning leading to the creation of the next wave of economic prosperity, including new career paths in industries like legal, tax, retail, pharma, and more. As lawmakers put policy into practice, it’s important to do so in a way that does not hinder or prevent new jobs from being created.
AI is a compelling technology with the potential to revolutionize industries and shape economies across the globe. Looking past the common misconceptions and false narratives, we can truly appreciate how AI works for more thoughtful policy while allowing the tech to continue growing and developing. AI leaders must be prepared to take on the bulk of the responsibility to ensure the technology is secure and responsible.
The regulation of AI is not only one entity or government’s responsibility – we must all work together to shape how the technology benefits us.
Why do you think AI regulation is necessary for businesses with our growing reliance on AI tools? Let us know on Facebook, X, and LinkedIn. We’d love to hear from you!
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