Staff Reports
In an epic clash of wills, Sen. Mike Rounds is challenging federal regulators to step off the AI throttle and wait for Congress to take action. But, brace yourselves folks, because President Biden’s team is gearing up to unleash new executive action in response to the looming threat of AI.
https://x.com/WashTimes/status/1704553310223491427?s=20
The tension between lawmakers and regulators on AI policy has reached a fever pitch. Sen. Rounds threw down the gauntlet on Wednesday, just as federal officials are bracing for the President to sign an executive order on AI in the coming months. Sparks are set to fly, folks!
Speaking at a Senate Banking Committee hearing on the impact of AI on financial services, Sen. Rounds warned that stifling innovation through hasty regulations could leave our good ol’ US of A in the dust, while China takes the reins of the emerging tech market. We can’t let them win, folks! We can’t let China dominate the AI game while we’re stuck writing old school algorithms!
But hold on to your hats, because President Biden is ready to take the AI battlefield by storm. The Cybersecurity and Infrastructure Security Agency is gearing up for the President to sign an AI executive order later this year. Jen Easterly, the agency’s director, didn’t spill the beans on the details of the executive order, but she did emphasize the importance of AI in cybersecurity. Cue the dramatic music, folks!
Meanwhile, on Capitol Hill, the Senate Banking Committee and the Senate Select Committee on Intelligence are seriously worried about the impact of AI on national security and the financial sector. Chairman of the Senate Banking Committee, Sherrod Brown, warns that we can’t afford to sleepwalk through an AI transformation. We need to wake up, people!
And let’s not forget about market manipulation, which is keeping Senate Select Committee on Intelligence Chairman Mark Warner up at night. He’s concerned that AI tools could fuel this dangerous practice. Brace yourselves, folks, it’s about to get real!
With AI tools becoming more accessible and commercially viable by the day, it’s a race against time for U.S. policymakers. Biden’s team is pushing for new executive action and making deals with leading AI companies. But Congress, on the other hand, is taking a more “deliberative” approach, which may mean no AI legislation this year.
So, buckle up folks, because this battle between lawmakers and regulators over AI is about to go down in the history books. Who will emerge victorious? Will innovation triumph, or will regulations rain on our AI parade? Only time will tell. Stay tuned!
