Senate to Host Members-Only Hearing on the Dangers and Opportunities From Rise of AI
Key takeaways
- Senator Chuck Schumer confirms first of three AI briefings for all Senate members
- First drafts of legislation for AI regulation slated for the fall
- The briefing follows last month’s congressional hearing where OpenAI Sam Altman and other AI leaders were grilled on AI regulation
Class is in session for the Senate. Senator Chuck Schumer tweeted that the first all-members briefing on ‘AI 101’ was taking place this week, as the AI sector develops at pace. It’s a necessary step to help its members understand the tech — and keep up with other global bodies legislating on the same thing.
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What’s the latest Senate AI hearing?
Senator Chuck Schumer confirmed on Twitter Monday evening that the Senate is holding the first all-Senators briefing on AI. In other words, it was an ‘AI 101’ rundown so those who will be legislating can understand what they’re making laws around.
The move comes after growing pressure to regulate the frenetic sector, especially when other governments are rapidly advancing legislation. The European Parliament took a big step forward today as the first draft of the AI Act was approved by its members.
The Senate briefing took place on Tuesday, with Schumer confirming the bipartisan meeting’s purpose was because the “thirst for knowledge is deep and strong”. He also said the aim was to host two more AI-focused briefings, with the idea of getting legislation together in the fall.
What happened at the previous hearing?
Last month some of the top minds in the AI field, including OpenAI founder Sam Altman, IBM chief privacy officer Christina Montgomery and psychologist Dr Gary Marcus spoke to a congressional hearing about AI regulation.
During the three-hour session, it was suggested that the AI sector should have a regulatory body in place, compensation models for copyrighted work used for generative AI training and a standardized set of AI safety rules, among others.
AI was also compared to the dawn of the printing press, a revolution in sharing knowledge, or the atom bomb — and we all know how that went. “My worst fears are that [the AI industry] cause significant harm to the world,” Altman said.
The bottom line
Legislation for the AI sector is critical for the industry’s success, so it’s good to see the Senate taking educating its members about AI seriously. For investors, the sooner AI regulation is introduced, the sooner companies will know if they are in line with the law or not — and avoid any nasty surprises.
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