A commission of the U.S. Chamber of Commerce called on lawmakers to create regulations for AI technology to ensure that it's deployed in responsible and ethical ways.
The chamber's Commission on AI Competitiveness, Inclusion, and Innovation released a report saying that a "risk-based regulatory framework" is needed sooner than later as AI systems are developed and deployed at an exponential rate.
- The report claimed AI is estimated to add $13T to worldwide economic growth by 2030.
- It noted that "virtually every business and government agency" will utilize some form of AI in the next 10 to 20 years.
- Commissioners believe policymakers should work to develop "thoughtful laws and rules" for the responsible and ethical development and use of AI.
- While they didn't offer detailed specifics, the report did emphasize a "risk-based approach."
- It also argued that any "failure to regulate AI will harm the economy, potentially diminish individual rights, and constrain the development and introduction of beneficial technologies."
- The commission, formed in 2022, is chaired by former U.S. Reps. John Delaney (D-Md.) and Mike Ferguson (R-N.J.).
- Its findings were based on hearings involving more than 85 expert witnesses and written feedback from stakeholders.
