The US Chamber of Commerce calls for artificial intelligence regulation

WASHINGTON: The US Chamber of Commerce on Thursday called for regulation of artificial intelligence technology to ensure it does not hinder growth or become a national security risk, in a departure from the business lobby group’s typical anti-regulation stance.

Although there is little proposed legislation on artificial intelligence, the fast-growing AI program ChatGPT, which has won praise for its ability to quickly write answers to a wide range of queries, has raised concerns among US lawmakers about its implications for national security and education.

The Chamber’s report argues that policymakers and business leaders must quickly step up their efforts to create a “risk-based regulatory framework” that ensures the responsible use of AI.

It added that AI is predicted to increase global economic growth by $13 trillion by 2030 and has made significant contributions, such as easing hospital shortages and mapping wildfires to speed up the response of emergency management authorities. The report emphasized the need to be ready for the looming ubiquity of technology and potential dangers.

The report claims that within 20 years, “virtually all” companies and government agencies will be using artificial intelligence.

The report is the result of the artificial intelligence commission established by the chamber last year, and is in part a recognition of the critical role of business in the adoption and management of artificial intelligence, the chamber said.

Although it calls for further regulation, the chamber is careful to warn that there may be wide exceptions to the application of the regulation.

“Rather than trying to develop a one-size-fits-all regulatory framework, this approach to AI regulation allows for the development of flexible, industry-specific guidelines and best practices,” the report says.

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