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TechCheck

AI Safety Regulation Bill Blocked 9/30/24

TechCheck

CNBC

Disruptors, Investing, Faang, Technology, Business, Management, Cnbc, Tech

4.856 Ratings

🗓️ 30 September 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

A controversial AI safety bill died on California governor Gavin Newsom’s desk over the weekend -- a sweeping bill would have been one of the first moves toward real oversight of the nation’s dynamic new technology. But is it already too late for regulation to catch up?

Transcript

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0:00.0

The governor of California vetoing a sweeping AI safety bill that would have put one of the country's first regulations around the development of that technology.

0:08.0

For today's tech check, Deir de Bosa talks about what comes next. Morning, D.

0:12.0

Hey, good morning, Carl. So governor governor newsom he's trying to have it both ways this also

0:15.8

shows just how tricky regulation is going to be by vetoing the bill he's appeasing

0:20.6

the companies who opposed it including Meta, Google, Open AI, and now creating

0:25.1

his own committee to develop new legislation.

0:28.0

That shows the research community who was largely in favor of the bill that he's serious about regulating AI.

0:34.2

Ultimately though we have seen this movie before the worry is that the tech moves

0:38.2

faster than the lawmakers can and regulation gets pushed further out or doesn't sufficiently address the most

0:44.2

pressing concerns. Newsom rejected the bill in its current forum saying that it

0:48.2

applied only to the largest and the most expensive AI models, those that cost at least 100 million to train.

0:55.6

He argues that other smaller AI systems, they can be deployed in high-risk environments

1:01.0

or they can involve critical decision-making or the use of

1:03.5

sensitive data and those would not be covered by this bill. Think lower stakes like

1:08.1

auto-correct and customer service chatbots versus AI forecasting to manage electrical grids or AI-powered medical

1:15.1

diagnostic tools which could require those smaller models and thus not be

1:19.4

covered by the bill. Now in his letter vetoing it, Newsom notes that California is home to 32 of the

1:25.4

world's 50 leading AI companies and quote, let me be clear we cannot afford to wait

1:31.0

for a major catastrophe to occur before taking action to protect the public.

1:36.7

So he's now bringing on prominent AI researchers, including Stanford University Professor

1:41.2

Faye Faye Lee, to develop workable guardrails and he

1:44.8

listed a number of AI related bills that he has signed into law this year including

...

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