Signed yesterday, President Biden’s new executive order on artificial intelligence safety is already making waves across the technology industry. While the intention of the order is ensuring the responsible development and safe use of AI, the result of the order is likely to be entirely different. The order suffers from a classic “Ready! Fire! Aim!” mentality, jumping the gun with overly prescriptive regulations before beginning to assess the nature and significance of the problem it aims to solve. This may be one of the most dangerous government policies in years.
Coming in at more than 100 pages in length, the executive order is a directive across the “whole of government” to begin regulating this sweeping new technology, which has the potential to revolutionize entire sectors from education to healthcare to finance. The order directs or makes requests of countless federal agencies, from the Departments of Energy and Homeland Security to the Consumer Financial Protection Bureau and the Federal Housing Financing Agency, just to name a few. These agencies, in turn, have the authority to issue regulations that carry the force of law.
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