In the evolving technological landscape, President Biden’s recent executive order titled “Safe, Secure, and Trustworthy AI” offers a timely framework to guide the integration of artificial intelligence (AI) into various facets of society. Though the order is expansive, I’d like to focus on a few key areas that particularly resonate with my perspective.
1. Safety First: AI and Biological Materials
One of the most commendable aspects of the executive order is the emphasis on the safety implications of merging AI with biological materials. As we stand on the cusp of a potential bio-tech revolution, ensuring that AI doesn’t contribute to the development of hazardous biological substances is prudent. This emphasis recognizes the inherent risks of combining two potent forces and demonstrates a commitment to preemptively mitigate potential harm.
2. Transforming Education with AI
The executive order’s focus on reshaping the educational landscape with AI offers a glimpse into a future where students are better equipped for the digital age. Furthermore, I strongly advocate for the integration of generative AI studies into middle school, high school, and college curricula. As AI becomes increasingly integrated into our daily lives, early exposure and understanding will empower future generations to harness its capabilities.
3. Protecting the Workforce in an AI Era
The recognition of AI’s potential impact on the workforce is commendable. As we advance technologically, it’s vital to ensure that we do not inadvertently marginalize human capital. A focus on maximizing the benefits of AI for workers while mitigating potential harm is a step in the right direction.
We’ve seen the disruption caused by globalization and how it has affected our economy, middle class incomes, labor participation rates, and manufacturing capabilities.
Many of our citizens have prospered in spite of the changes wrought by globalization. This will be true as next generation AI again transforms our economy.
However, the disruption from AI that is about to occur may have more impact at the higher levels of the middle class than anything we have seen in the past. Professionals in law, accounting, healthcare, and financial services will all see impacts on their careers and incomes and will have to adapt to the resulting disruption from generative AI in particular.
Producing a detailed report on AI’s labor-market effects and exploring strategies to support workers affected by these disruptions, as the order suggests, shows foresight. Such measures acknowledge the transformative power of AI and the potential challenges it could pose to a wide swath of our labor market.
Though our focus has been on inflation for the past two years, I fear the rapid, widespread adoption of AI may create a deflationary environment that will be hard to control. I encourage the president to add the study of potential deflationary effects resulting from labor market disruptions from AI to his order. I suggest that he seek to understand how monetary policy might be altered to counteract this potentially unintended consequence of rapid adoption of this powerful technology.
4. Championing an Open AI Ecosystem
By promoting a fair, open, and competitive AI ecosystem, the executive order underscores the importance of inclusivity and transparency. Ensuring that the AI landscape isn’t monopolized and remains accessible to innovators from diverse backgrounds will foster more development in the field. This will be critical if we are to maintain robust participation in the global economy and to maintain widespread prosperity among our citizenry.
In conclusion, while President Biden’s executive order on AI covers vast territory, these highlighted areas offer a measured and optimistic look into the future of AI integration. By championing safety, bolstering education, safeguarding workers, and promoting open competition, we’re laying the groundwork for a future where AI is a productive tool, harnessable for our collective, widespread ability to flourish.
This post, a part of our ‘Executive Insights’ series, has been authored by Allan Martin, offering valuable perspectives on Lumina’s positions regarding AI and Machine Learning news. Delve into expert insights and stay informed about our company’s stance on the latest developments in the field.