PYMNTS.com August 19, 2024
California’s ambitious attempt to regulate large-scale artificial intelligence (AI) systems is advancing through the State Legislature, but only with significant modifications and intense debate within the tech industry.
Senate Bill 1047, introduced by State Sen. Scott Wiener, D-San Francisco, cleared the Assembly Appropriations Committee last week with substantial amendments. The bill aims to establish safety standards for robust AI systems when concerns about the potential risks of unchecked AI development are growing. Industry experts fear that the bill’s provisions could hamper innovation.
“Companies that drive AI innovation need a regulatory environment that balances safety with the ability to grow and develop cutting-edge solutions,” Daniel Christman, co-founder of the AI company Cranium, told PYMNTS. He warns that overregulation could “hinder the...
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