ChatGPT launched nine months ago and captured the public’s attention unlike any innovation in recent memory. Excitement about the opportunities of AI is also accompanied by legitimate concerns about its potential negative impacts, and calls from industry and government for important and enforceable rules. However, the window for the United States to influence the global debate on how to regulate artificial intelligence is rapidly closing.
While many AI innovations are happening in the United States, other governments around the world are moving faster to shape the rules for the future. In November, the UK will host the Global Artificial Intelligence Summit. By the end of 2023, the EU will finalize the Artificial Intelligence Act, the most comprehensive AI law enacted to date.Japan will finalize its AI policy approach while leading G7’s efforts Establish common standards for AI governance.
Enterprise software companies (makers of artificial intelligence systems) began calling for U.S. legislation nearly two years ago, and the need for action is only becoming more urgent.
There are some basic goals that everyone should agree on: No form of artificial intelligence should be used to commit illegal acts. It should not be used to compromise privacy, facilitate cyberattacks, exacerbate discrimination, or cause physical harm. Artificial intelligence that is developed and deployed responsibly, improves our lives, and makes us safer should thrive.
Congress should leverage the extensive work already underway by government organizations, civil society advocates, and industry groups to identify the risks of using AI in a variety of contexts and the specific steps organizations can take to mitigate those risks. Although these recommendations have important differences, together they form a basis for action.
There are signs that U.S. lawmakers want to take action. Some members of Congress are drafting or have introduced AI-related legislation, and Senators Schumer, Young, Heinrich and Rounds have launched a process to develop bipartisan AI legislation internally. “A few months.”
However, some other leaders seem to believe that Congress may never pass meaningful AI legislation given the complexity of the technology and the lack of understanding among lawmakers.
It is important to study the issue at hand before taking action, but hopefully this will not lead to inaction on major technology policy issues. While no one fully knows what all the positive and negative aspects of AI will be, including the new implications of generative AI, we don’t need to wait to develop ground rules to protect against today’s obvious risks.
Legislation should require companies developing or using AI systems in high-risk environments to identify and mitigate the potential harm of these systems. Specifically, legislation should require companies to conduct impact assessments of high-risk AI systems so that those developing and deploying AI can identify and address potential risks. Impact assessment as an accountability mechanism has been widely used in a range of other areas, from environmental protection to data security. The same approach applies to artificial intelligence.
Establishing thoughtful rules for artificial intelligence is critical to the vitality of our economy. Businesses of all sizes and industries are looking for ways to leverage AI for growth. Countries that best promote responsible and widespread adoption of AI will see the greatest economic and job growth in the coming years. But first, governments must enact strong laws that build trust and raise standards for the use of AI.
Passing any new law is no simple matter. Holding meaningful global discussions is time-consuming and difficult. The United States must not waste this rapidly closing window of opportunity to lead AI legislation.
Victoria Espinel is CEO of BSA (The Software Alliance), the global trade organization representing the enterprise software industry.
The views expressed in Fortune opinion pieces are solely those of the author and do not necessarily reflect the views and beliefs of: wealth.
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