Balancing the needs of tech companies and ensuring the protection of consumer rights, President Joe Biden signed an executive order on AI safeguards.
Biden agrees that with the high potential and high risk posed by artificial intelligence, it is important to "govern this technology."
The order uses the Defense Protection Act and aims to ensure that businesses profit from using AI without risking public safety.
According to the order, the AI developers must share safety test results and any other information with the government.
The National Institute of Standards and Technology will be creating standards that ensure the safety and security of AI tools before public release.
The Commerce Department will issue guidelines on labeling and watermarking AI-generated content to differentiate AI-generated and human-generated content.
This is an important step that addresses matters of privacy, intellectual property, research, consumer protection, and worker rights.
The White House is clear that the order guidance has to be implemented fast - within the range of 90 to 365 days to keep up with the pace of AI.