PYMNTS.com May 15, 2024
A growing chorus of lawmakers and technology leaders are calling for new regulations to govern the rapid rise of artificial intelligence (AI) as the transformative but largely unchecked technology permeates more aspects of daily life.
On Wednesday (May 15), a bipartisan group of senators unveiled a long-awaited plan to bolster U.S. AI efforts, calling for a significant funding boost while largely deferring on the thorny issue of regulating the rapidly advancing technology.
The legislative blueprint, laid out in a 20-page document titled “Driving U.S. Innovation in Artificial Intelligence,” urges ramping up government and private-sector AI research and development to $32 billion annually by 2026.
The plan was introduced by Senate Majority Leader Chuck Schumer, D-N.Y., and three colleagues.
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