AI is snowballing, and as a public, we don't fully understand the risks. Hence, the government must take action to protect the public interest. However, regulations can stifle innovation and burden startups, often leading to regulatory capture, which benefits large companies. But AI is too critical to leave unaccountable, so this exec order is a necessary signal to the market.
On October 30, 2023, President Biden signed an executive order on artificial intelligence (AI) security, privacy, and trust. This order is a significant step forward in addressing the growing risks posed by AI, and it is particularly important given the increasing complexity and opacity of AI systems.
In an ideal world, we would not need regulations to govern the development and use of AI. However, the reality is that most people are not fully educated about AI or its long-term impacts. Additionally, AI is rapidly growing and is not always transparent or predictable. As a result, there is a significant risk that AI could be used in ways that harm individuals and society as a whole.
The new executive order is designed to address these risks by establishing a set of guardrails for the development and use of AI. The order requires that AI systems be developed and used in a way that is safe, secure, and trustworthy. It also requires that AI systems be transparent and accountable and that they respect individual privacy and civil liberties.
Here are some of the key provisions of the executive order:
The new executive order on AI security, privacy, and trust is a necessary step in addressing the growing risks posed by AI. It is important to note that the order is just a starting point, and it remains to be seen how it will be implemented and enforced. However, the order sends a clear signal that the administration is taking AI security, privacy, and trust seriously.