US President Jo Biden had issued an executive order to lay out new standards for safety and security around artificial intelligence (AI) and to managing the risks associated with the technology. However, several developers and industry insiders are criticizing the move as a way to curtail freedom to innovate, drawing parallels with the excessive enforcement actions against the crypto industry by US regulators.
AI Regulatory Uncertainty Begins?
With the new executive order, AI developers are required to share safety test results and other critical information with the US government. Only developers of the most powerful AI systems are required to share the key information, with the order setting a limit of AI models with over 1e26 floating point operations requiring to report to the government.
Companies running these high level AI models are required to share results of all red-team safety tests. Interestingly, this limit is just above the current operational capacity with which the largest existing models are trained, according to David Vorick, creator of the SiaCoin cryptocurrency.
Also, the executive order aims at protecting Americans from AI-enabled fraud and deception, similar to the U.S. Securities and Exchange Commission’s (SEC) drive to enforce regulations on crypto exchanges in the name of fraud detection. The artificial intelligence industry could potentially be at the receiving end of regulatory hurdles, just like years of uncertainty around regulation in the crypto industry in United States.
Today, I signed an Executive Order that is the most significant action any government has ever taken on AI safety, security, and trust.
I am determined to do everything in my power to promote and demand responsible innovation. pic.twitter.com/jCAfdySUXL
— President Biden (@POTUS) October 30, 2023
Attorney Criticizes AI Privacy ‘Attack’
Jeremy Hogan, a pro-XRP attorney, asked why the new AI executive order was worried about Americans’ privacy while the same has been violated with the anti-crypto enforcement over the years. He said “the hypocrisy is enormous,” adding that the US administration attacked privacy in the crypto space at every opportunity.
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