Big tech companies are spending more than $30 billion on acquisitions of artificial intelligence startups, which will increase by 2023 as states rush to fill federal regulatory gaps with nearly 700 AI bills to be introduced in 2024. This is an increase of almost 400% from 2017.
The series of moves includes workplace-focused federal legislation targeting algorithmic bias and employee surveillance, making Colorado the first state to enact comprehensive AI regulations.
Expert: Big tech’s AI-driven buying spree raises antitrust red flags
Big tech companies are spending more than $30 billion to acquire AI startups, according to a University of Notre Dame law professor, raising concerns about anti-competitive practices in the growing AI field. Roger Alford. Writing in progress bloomberg lawa former Justice Department antitrust official warned that tech giants may be avoiding regulatory oversight by classifying acquisitions as “partnerships” or “acquisitions.”
Amazon, apple, google, meta and microsoft Alford is using its “existing monopolies” in search, social media and voice assistance to absorb at least 30 AI startups all together, consolidating their AI systems while potentially crowding out competition. I wrote. This consolidation threatens both market innovation and national security.
This practice creates barriers for independent startups who struggle to access critical development resources and sales channels. As China aggressively pursues advanced AI capabilities for military applications, Alford called for stronger antitrust laws to encourage domestic competition while discouraging technology transfers to adversaries. .
“But recently, like Pope Francis, saidFor AI to play its proper role, we need “regulatory, economic, and financial environments that limit the monopoly power of a few and ensure that innovation benefits all of humanity,” Alford said. he writes.
AI-related bills surge by nearly 400% as countries rush to implement regulations
State legislatures will see an unprecedented wave of AI-related bills in 2024, with lawmakers introducing nearly 700 AI-related bills, up from 191 in 2023, according to an October 22 report. report from BSA | Software Alliance. The surge reflects growing state-level action as the federal government remains inactive on AI regulation.
Colorado led the way, becoming the first state to pass comprehensive legislation targeting high-risk AI uses. Meanwhile, California and Tennessee have enacted focused reforms that address issues such as: problems like Data transparency and digital replicas. In total, 113 bills were passed. all over the country71 of which specifically target deepfake technology.
“Despite the dramatic increase in legislative activity around AI, policymakers have yet to unite around specific policies.” regulatory model” the report said.
Governors also shaped policy through executive orders. gavin newsome He vetoed a bill that would regulate large-scale AI models.
With four more state legislatures scheduled to convene in 2025, the wave of regulation shows no signs of slowing. The BSA urged lawmakers to pursue a consistent approach rather than contradictory models.
AI invoice package aims to automate the workplace
As lawmakers grapple with concerns about automated employment decisions and worker privacy, three bills introduced in Congress aim to establish guardrails around AI in the workplace. The goal of the proposed bill is problems like Algorithmic bias, employee surveillance, and AI liability.
”Robot boss ban lawA bill introduced by Sen. Bob Casey of Pennsylvania would prohibit employers from making hiring decisions based solely on AI systems without human oversight. The accompanying bill “Stop spying on your boss” addresses workplace surveillance by requiring transparency regarding employee surveillance practices.
”algorithmic liability law,” said Sen. Ron Wyden of Oregon, who would require companies to evaluate AI systems for potential discrimination or bias before deploying AI in important employment decisions.
While the prospects for the bill in the current Congress are uncertain, it reflects the growing momentum for AI regulation at both the federal and state levels. In addition to Colorado becoming the first state to pass a comprehensive AI bill, Illinois now requires employers to notify workers when AI is used for purposes. employment decision.
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