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AI Regulation: What's Coming and What You Need to Do
[Editor's Note: With all the talk of AI and ChatGPT (including an extensive look in the April issue, we wanted to make readers aware of all aspects of the burgeoning technology. So we share a two-part article from our Cybersecurity Law & Strategy sibling newsletter on potential AI regulations of which users should be aware and how AI is being regulated currently.]
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.
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