Senate Hearings Signal Bipartisan Drive For AI Regulation

In Short

The Situation: Rapid advances in generative artificial intelligence ("AI") have galvanized bipartisan support for a new U.S. legal framework to regulate AI, potentially including creation of a new federal agency.

The Result: In recent Senate committee hearings, key members demonstrated a determination to act quickly, citing what they described as lessons learned from the government's relatively hands-off approach to the early days of social media. The Biden administration has also shown a strong interest in encouraging AI innovation while regulating potential risks.

Looking Ahead: Companies that develop and deploy AI should be prepared for new government attention, potentially including Congressional inquiries, a licensing regime, training and validation standards, and new rules and standards on anti-discrimination.