Artificial intelligence (AI) holds significant potential as well as substantial risks. These sentiments underpin the Biden administration’s recent Executive Order. The Order begins to outline the future of government actions toward the emerging field of AI. While the primary focus of the directive is on safety and security, it also incorporates provisions intended to encourage the ongoing development of AI within the United States.
Seven leading AI companies – Amazon, Anthropic, Google, Inflection, Meta, Microsoft, and OpenAI – have already begun aligning themselves with the scrutiny and goals outlined by this executive action. As a result, it has significant implications not only for AI development but also for the broader tech industry and the businesses they engage with.
The Order comments on the vast promise of AI, yet warns, too, of the substantial risks involved. By acknowledging these risks, the administration is recognizing the transformational influence of AI technologies on society and economy, and the associated need for robust legal and regulatory measures.
While the Order is a vital step forward, it represents the opening of a discussion rather than the final word on the matter. As AI continues to evolve, so too will the legal and regulatory environment around it. Hence, those working in corporate legal departments and law firms must keep abreast of the developments. AI has already begun to influence many aspects of legal practice, and understanding this executive action can offer key insights into the future regulatory direction.