Witnesses warn lawmakers against overregulating AI at joint economics hearing

Members of the House and Senate Joint Economic Committee were warned about overregulating emerging artificial intelligence products and services, at a hearing that emphasized the potential benefits of AI for reducing healthcare costs and promoting scientific breakthroughs…

Adam Thierer, a researcher at the free-market R Street Institute, said “Taking inventory of existing rules and regulations can…allow policymakers to identify any gaps that Congress ought to address using targeted remedies.”

Thierer told lawmakers to require federal agencies “to evaluate their current policies toward AI systems with two purposes in mind. First, to ensure that they are not over-burdening algorithmic systems with outdated policies, and second, to determine how existing rules and regulations are capable of addressing the concerns that some have raised about AI.”