President Biden’s Executive Order Sets New Standards for AI with a Focus on Consumer Welfare

President Joe Biden has taken a step in artificial intelligence (AI) by signing the first-ever executive order on AI in the United States.

This executive order introduces a range of measures to ensure the safety and trustworthiness of AI technologies.

The executive order is designed to have an immediate and tangible impact on AI development and use. It carries the full weight of the law to make AI technologies safer, more secure, and more trustworthy.

The executive order comprises eight essential components, each addressing different aspects of AI. These include creating new safety and security standards for AI, safeguarding consumer privacy, advancing equity and civil rights, protecting consumers, supporting workers, promoting innovation and competition, collaborating with international partners, and developing guidance for the use and procurement of AI by federal agencies.

The order requires AI companies to share the results of safety tests with the federal government. This ensures that AI technologies are thoroughly assessed for their safety and security.

Landlords and federal contractors are provided with guidelines to prevent AI algorithms from perpetuating discrimination. This is a crucial step in ensuring that AI benefits everyone and does not reinforce biases.

The order aims to protect consumers from the potential negative impacts of AI. It calls for an evaluation of AI-related healthcare practices that could be harmful to individuals.

The executive order recognizes the potential disruptions AI can bring to the labor market. It calls for a report on the implications of AI on employment and outlines ways the federal government can support workers affected by these changes.

On the other hand, on the European continent, the United Kingdom, particularly London, is emerging as a key player in AI. Recent events like the AI Summit dinner at Guildhall and the global AI Safety Summit at Bletchley Park show the nation’s commitment to unlocking the power of AI.