To address calls for the responsible use of artificial intelligence (AI), US President Joe Biden has finally issued an Executive Order (EO) governing the regulation of this transformative technology to ensure safety, privacy, equity, and consumer protection in various sectors.
As a recap, there were speculations earlier that the new Executive Order of President Joe Biden on AI regulation will also touch on the topic of cryptocurrencies. Based on its fact sheet published by the White House on Monday though, we couldn’t find anything in the document that pertains to cryptocurrencies, blockchain, crypto mining, Bitcoin, or anything related to the control of digital currencies or assets.
Highlights of the New EO on AI Regulation Signed by President Joe Biden
The fact sheet about the latest proclamation of President Biden highlights the following:
Focus on Safety and Security
In order to safeguard national security, economic security, and public health, companies developing AI technologies are now required by the EO to furnish the US government with essential information about their features, operations, and test results. The issuance says that this is important to guarantee that the AI systems have undergone stringent testing and evaluation before they are launched for public use.
Promotion of Innovation and Competition
The EO also ensures that students and researchers are given access to crucial resources and data concerning this technology through the assistance of the National AI Research Resource pilot program. Likewise, it aims to give developers and entrepreneurs access to technical assistance and resources to allow them to be competitive while keeping the US at the forefront of AI innovation.
Protection of Privacy and Civil Rights
Through the EO, President Biden has called for Congress to pass bipartisan data privacy legislation that centers on the development of privacy-preserving techniques. The said techniques encompass advanced AI applications that are tailored to protect the privacy of individuals’ data while allowing AI systems to be effectively trained.
Ensuring Responsible Government Use of AI
Additionally, the order emphasizes the need for responsible deployment and procurement of AI in government operations. In relation to this, the EO prescribes the rapid hiring of AI professionals who will be tasked to train employees in the government.
Advancing Equity and Civil Rights
Moreover, the issuance highlights the need to provide clear guidance for the use of AI in the justice, healthcare, and housing sectors so it does not trample on civil liberties. It also necessitates the provision of measures against “algorithmic discrimination” and directs the Department of Justice and Federal civil rights offices to make sure that offenses perpetrated with the use of the technology are properly investigated and prosecuted.
Protecting Consumers and Patients
Lastly, the EO aims to strike a balance between the benefits and potential harm of AI to consumers, particularly in healthcare. It orders the Department of Health and Human Services to establish a safety program to address any harmful AI healthcare practices. On the other hand, it recognizes the transformative role of AI in enhancing education and in offering personalized tutoring for students.
Overall, President Joe Biden’s new Executive Order is a defining moment in the United States’ approach to AI regulation. By addressing issues related to safety, privacy, equity, consumer protection, and responsible government use, the order strikes a delicate balance between fostering AI innovation and safeguarding the well-being of the American people. It positions the country at the forefront of AI regulation and responsible innovation, creating a blueprint for the technology’s role in the country’s future.