Could a new federal agency for regulating AI end up being swayed by the technology industry? That’s one of the key questions raised by testimony given to a Senate Judiciary subcommittee by OpenAI CEO Sam Altman, IBM executive Christina Montgomery and cognitive scientist Gary Marcus in May 2023. Altman suggested that regulators could license companies to release advanced AI technologies, but warned that such an agency could fall under the undue influence of the tech sector. Instead, he pushed for auditing professionals to be licensed and for companies to establish Institutional Review Boards. But while regulation and licensing are necessary, it’s unclear in what form this should occur and for whom. Lawmakers and policymakers around the globe have responded to such issues with laws curbing AI risks on national, regional and international levels. In Europe, a risk model categorizes AI applications according to three different degrees of risk, depending on the potential for harm posed by their use in society. The US’ National Institute of Standards and Technology has also created an AI risk management framework with input from multiple stakeholders, including industry associations, think tanks, technology companies and public bodies. Congress must thoroughly consider the options and all the effects of licensing professionals instead of companies, as well as updating privacy laws, for the benefit of all concerned.
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