Yep, regulators are coming for AI. But is this really the right bill? Should AI companies be responsible for how people use their tools? This might be too heavy handed, and amplify the risk of our falling behind other locales with more lenient restrictions. While we think AI regulation is definitely needed, we’re not sure this is the right approach… But we’ll see what happens!
Governor Gavin Newsom is at a crossroads with the AI Safety Bill, SB 1047, which aims to regulate the AI industry in California. Introduced by Senator Scott Weiner, the bill has already passed the State Senate with a 29-9 vote. Now, it’s up to Newsom to decide whether to sign it into law by September 30th.
The bill’s main goal is to prevent large AI models from creating events that could harm humanity. If approved, by January 2025, tech companies will need to submit safety reports for their AI models. By 2026, a nine-person ‘Board of Frontier Models’ will review these reports and advise the attorney general on compliance. The attorney general would then have the authority to halt the development of AI models deemed dangerous.
There are strong opinions on both sides. Big tech companies like OpenAI argue that the bill could stifle innovation and drive talent out of California. On the other hand, figures like Elon Musk support the bill, emphasizing the need for regulation in the rapidly evolving AI industry.
How It Works
The bill requires tech companies to write and submit safety reports for their AI models. These reports will be reviewed by a specialized board, which will then advise the attorney general. If a model is found to be dangerous, the attorney general can take legal action to stop its development.
Benefits
- Enhanced safety and oversight in the AI industry.
- Potential to prevent harmful events caused by AI models.
- Establishment of a regulatory framework that could serve as a model for other states or countries.
Concerns
- Potential to stifle innovation and drive talent out of California.
- Increased regulatory burden on tech companies.
- Possible preference for federal regulation over state-level regulation.
Possible Business Use Cases
- Develop a consultancy that helps tech companies prepare and submit AI safety reports.
- Create a software platform that automates the compliance process for AI safety regulations.
- Launch a startup focused on auditing and certifying AI models for safety and compliance.
As we await Governor Newsom’s decision, it’s worth pondering: How can we balance innovation and safety in the rapidly evolving AI industry?
Image Credit: DALL-E
