Artificial intelligence already is being and has been regulated, and new expanded regulations are upcoming and will be ongoing, as also will legal and compliance challenges (including, for example, in whatever manner people decide to variously define or interpret from time to time exactly what is or what constitutes AI).
I have generally been following AI news since late 2022, and mostly on its possible impact on the practice of law and litigation, auditing, risk management processes, compliance with laws and regulations, and the possible duties, actions and diligence by CEOs, CFOs, general counsel/CLOs, internal auditors/CAEs and outside auditors, compliance officers/CCOs, other officers such as under the McDonald’s January, 2023, case in Delaware, and board, director, audit committee and governance committee members. Thus, in that regard I also follow efforts, laws and regulations to regulate AI.
As the impact of AI will be felt by everyone, so also will its legal regulation which directly or indirectly also will impact what can be said and done and how, rights, and possible liability exposure. Whereas one approach could be to require some form of notice that something has been AI generated in part or entirely, it is certain that that is not the extent of the regulation that is being developed. Thus, there will be many legal and compliance challenges.
Below I have attached discussions about three recent AI related actions (frankly, it would be difficult and perhaps impossible to keep up-to-speed as there are so many different entities and organizations that are working on possible and proposed AI standards and regulations). Below I have attached a February 2023, Executive Order; a joint FTC, CFPB, EEOC, and DOJ statement, and a May 4, 2023, Whitehouse statement.
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David Tate, Esq. (and inactive CPA)
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David Tate, Esq. (and inactive California CPA) – practicing only as an attorney in California.
David Tate, Attorney California (and inactive CPA) – Trust, estate, probate and elder abuse disputes, litigation and contentious administrations and special assets; business litigation and internal and co-owner business disputes, litigation, governance, boards, investigations and audit; real property and co-owner disputes and litigation; mediator and dispute resolution services; and social and digital media for law, people, businesses and legal risk management. 