US Chamber of Commerce Creates AI Panel

Noting the potential benefits of artificial intelligence (AI), the U.S. Chamber of Commerce has launched an advisory panel, the trade group announced Tuesday (Jan. 18). 

Dubbed the Artificial Intelligence (AI) Commission on Competition, Inclusion, and Innovation, the 11-member team was created to advance U.S. leadership in the use and regulation of the technology. 

“Artificial intelligence is rapidly changing how businesses operate, and this emerging technology can be a tremendous force for good in developing new medical treatments, identifying cyberthreats, expanding opportunities for the underserved, and making communities safer and more prosperous,” said Suzanne P. Clark, the Chamber’s president and CEO, in a statement.  

She added that while technological innovation is crucial to a thriving 21st century economy that allows the U.S. to compete globally, rules are needed to mitigate risks. 

AI won’t be easy to regulate, and a trial-and-error phase can be expected in most countries that attempt it. Still, some regulatory proposals with basic principles can be achieved in 2022 in the U.S. and Europe.  

See also:  Global AI Regulation Could Come in 2022 With Broad Principles 

In an interview with PYMNTS, Drexel University Chief Information Security Officer Pablo Molina said that despite being pessimistic on the current regulatory framework of privacy and AI in the U.S., there may be advances in 2022 that will result in some regulation at the federal level in a very basic way.  

The AI Commission will be co-chaired by former U.S. Rep. John Delaney (D-Md.) and Rep. Mike Ferguson (R-N.J.). It will include academics, executives from IBM and Bank of America as well as members of think tanks.  

The Commission will seek advice from stakeholders, meet with researchers, and conduct hearings to see AI issues firsthand, the Chamber said. It will then recommend durable, bipartisan AI policy solutions to ensure the country continues “to lead in innovation while fostering fairness in deploying this revolutionary technology.”