3 - 5 minute read
Officials in the United States are taking measures to monitor the development of artificial intelligence (AI), with new plans emerging to examine workers’ experiences with AI surveillance. On May 23, the White House announced that they would be asking workers about their employers’ use of AI for monitoring purposes, as federal investments are being allocated towards the development of the technology.
Regulators in the US are planning to hold a listening session to hear out experiences with AI for workplace surveillance, monitoring, and evaluation. The call will involve gig work experts, researchers, and policymakers. This comes only a few weeks after U.S. Vice President Kamala Harris invited executives from major tech companies to the White House to discuss the dangers of AI. Nine of the top advisers to the Biden administration in science, national security, policy, and economics, along with the CEOs of OpenAI, Microsoft and Meta CEO Mark Zuckerberg, among others, attended the meeting.
Prior to the meeting, U.S. President Joe Biden urged tech companies to address the risks of AI. Officials in the US recently released standards for key and emerging technologies, identifying eight sectors within the tech industry that could have a significant impact on the economy in upcoming years.
The US is not alone in forming a regulatory stance on emerging technology. Regulators in the United Kingdom pledged nearly $125M towards the creation of a ‘safe AI’ task force while the country focuses on AI “readiness.” Meanwhile, in the European Union, officials are in the process of finalizing legislation that could be one of the world’s first set of legal measures and guidelines regulating generative AI tools.
With the increasing development of AI, it is essential to monitor its impact on workers and society. The use of AI for workplace surveillance, monitoring, and evaluation has been a controversial topic, and it is crucial to assess its impact on workers’ mental health, privacy, and job security. The forthcoming listening session provides an opportunity for workers to voice their concerns and suggest measures to mitigate the risks of AI.
The CEOs of major tech companies have also been invited to discuss the dangers of AI and address its potential risks. It is essential to acknowledge the potential threats posed by generative AI and develop measures to address them. The US officials’ release of standards for key and emerging technologies is a step towards identifying the sectors that could have a significant impact on the economy in upcoming years and developing measures to regulate them.
The UK’s pledge towards the creation of a ‘safe AI’ task force and the EU’s legislation regulating generative AI tools are commendable steps towards regulating emerging technologies. The ban on facial recognition in public spaces and predictive policing tools is a positive development towards protecting privacy and ensuring ethical use of AI.
The Bottom Line
As AI continues to develop and impact workers and society, it is crucial to monitor its impact and regulate its use. Workers’ experiences with AI surveillance must be heard, and measures must be taken to address the potential risks of AI. The US, UK, and EU’s steps towards regulating emerging technologies are positive developments towards ensuring the ethical use of AI. Traders should monitor the impact of these developments on the tech industry and adjust their investment strategies accordingly.