New Report From US Chamber Of Commerce Calls For AI Regulation

The US Chamber of Commerce is calling for regulations to protect against the potential risks of artificial intelligence technologies, a departure from its usual anti-regulatory stance, per Reuters. 

Policymakers and business leaders must act swiftly in order to create a risk-based regulatory framework that will ensure AI tools are implemented responsibly.

Related: AI Regulation Is Coming. What’s Canada’s Approach?

This has been brought to public attention by programs such as ChatGPT, which is able to provide quick answers to queries with wide-ranging impacts on national security, education, and economic growth.

The Chamber of Commerce recently released a report that emphasizes the importance of being prepared for AI’s implementation in nearly all businesses and government agencies within 20 years.

This report cites that it’s estimated that within this time frame, AI will have added $13 trillion to global economic growth and has already made significant contributions to certain aspects such as healthcare and emergency management. Therefore, the need to be well-versed in its potential risks is also emphasized. The Chamber has also acknowledged the crucial role industry leaders must take in managing these innovations.