WASHINGTON–With credit unions, CUSOs and their vendors all investing in artificial intelligence (AI) and experimenting with the technology, President Biden has issued a sweeping AI executive order.
The effort marks the “U.S. government’s most ambitious attempt to spur innovation and address concerns the burgeoning technology could exacerbate bias, displace workers and undermine national security,” according to the Washington Post.
In addition, the report said the “sprawling order tackles a broad array of issues, placing new safety obligations on AI developers and calling on a slew of federal agencies to mitigate the technology’s risks while evaluating their own use of the tools,” according to a summary provided by the White House reviewed by the Washington Post.
The Provisions
According to the Post, the order:
- Requires that companies building the most advanced AI systems perform safety tests, a practice called “red teaming,” and notify the government of the results before rolling out their products.
- Harnesses federal purchasing power, directing the government to use risk management practices when using AI that has the potential to impact people’s rights or safety, according to a draft of the order viewed by The Washington Post. Agencies will be required to continuously monitor and evaluate deployed AI, according to the draft.
- Directs the government to develop standards for companies to label AI-generated content, often referred to as watermarking, and calls on various agencies to grapple with how the technology could disrupt sectors ranging from education to health services and defense.
The full order can be found here.