AI Could Ruin Your Life or Business — Unless You Take These Critical Steps Don't wait for government legislation. Act now. Here's how.
By Gene Marks Edited by Maria Bailey
Key Takeaways
- Your concern — at least for now — isn't about violating any of the few AI laws that exist. Your concern is that AI technology in your company is misused by your employees — willingly or not — and creates potential liabilities that could challenge your business.
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AI regulations are starting to grow — but not fast enough.
As far back as 2019, the Trump Administration issued an executive order to maintain the U.S.'s lead in AI technology by pledging that the government would promote and enhance AI resources. In 2022, the Biden Administration issued its "Blueprint for an AI Bill of Rights" to encourage organizations to develop safe, effective, private and non-discriminatory systems. A year later, an Executive Order further reinforced the standards set out in the original 2022 blueprint.
This year, the Department of Labor issued guidance to help employers use AI technology in non-biased employment decisions in order to avoid non-compliance with equal employment opportunity laws. Also this year, the National Institute of Standards and Technology issued an "AI Risk Management Framework" to help organizations build "trustworthy" and "responsible" AI systems.
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