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AI Regulation in the U.S.: What's Coming, and What Companies Need to Do In 2023
Artificial intelligence (AI) technology is advancing exponentially and expected to dramatically change how companies operate on a global scale. Competitive pressures and advantages from AI optimization are driving business processes, and at times parts of entire industries, to increasingly rely on AI. Companies are dedicating more resources to developing, procuring, or acquiring AI tools and strategies to meet this need.
This has not escaped the attention of legislators and policymakers. This past year saw initial AI regulation models emerge, and 2023 promises to usher in a new wave of AI obligations for organizations. But despite the steady growth of global AI adoption, there is no comprehensive federal legislation on AI in the United States. Instead, the U.S. has a patchwork of various current and proposed AI regulatory frameworks. It is critical for organizations looking to harness this novel technology to understand these frameworks and to prepare to operate in compliance with them.
|Industries Impacted by Increasing AI Dependencies
Even though it is generally felt that AI is becoming more prevalent in business, companies still at times see AI as something "other industries" are doing. As a result, many companies may not yet be aware of the extent of AI use in their operations. Companies should expect they are already using AI and start to consider how to manage AI regulatory risk.
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