Biden's Executive Order on AI: Everything You Need to Know 👀

Hey fam!

It’s #SpookySZN! 👻 Hope all of you who celebrate Halloween have some fun dressing up and binging all the candy your heart desires. 

This week, we’re not only bringing you spooky vibes, but we’ve also got some hot off the press news from the emerging tech world: Yesterday (Oct. 30th), Joe Biden issued a first-of-its-kind Executive Order that he hopes will set America up as a leader in developing safe, secure, and trustworthy AI. 

Now of course we’ve read the whole thing so you don’t have to, but if we can be honest for a second… The brief is certainly a step in the right direction, but it also left some things to be desired. In this week’s post, we’re breaking down the 8 key areas of focus of the brief and will give our two cents on what it all means for us moving forward. 

Let’s dive into the 8 actions below:

1) New Standards for AI Safety and Security

One of the main requirements of this Executive Order is that companies developing these AI models and systems will be required to share their safety test results with the government. whispers It’s giving Big Brother 👀. Rigorous standards for safety will be established, and these standards will be applied to critical areas like infrastructure and national security. There's also a strong emphasis on preventing AI from being used for risky things like creating dangerous biological materials or deceiving people, and a cybersecurity program is being set up to make our software and networks more secure. And finally, the order aims to ensure that the military and intelligence community use AI ethically and effectively and take measures to counter potential threats from adversaries using AI.

2) Protecting Americans’ Privacy

We all know that AI can pose a threat to Americans' privacy by making it easier for companies to extract and exploit personal data. And honestly, now with AI it seems like our phones will never beat the “Is my phone listening to me?!” allegations 😂. To address this, Biden is urging Congress to pass bipartisan data privacy laws. This basically means that they’d prioritize the development of privacy-preserving techniques, especially those using advanced AI, and funding research to enhance privacy technologies like encryption. The government will also be a lot more strict on how agencies use commercial data, especially data with personal information. Their goal is to establish guidelines for federal agencies to ensure effective use of privacy-preserving methods, particularly in AI systems.

3) Advancing Equity and Civil Rights

It’s clear that AI is a powerful technology, but with that power comes a responsibility to make sure it does not perpetuate the discrimination and biases that exist today – and the Biden administration is doing a lot to ensure AI is used for good, including taking steps to combat algorithmic discrimination. But that’s not all – the President is also giving guidance to prevent AI-driven discrimination in housing, federal programs, and contracting, addressing algorithmic bias through training and coordination, and ensuring fairness in the criminal justice system by establishing best practices for AI use in various aspects of law enforcement. AI in the criminal justice system is actually an interesting use case that we give kudos to Biden and his administration for prioritizing! Now what will the impact actually be? Who knows, but again… it’s a step in the right direction. 

4) Standing Up for Consumers, Patients, and Students

One thing we can say for certain – AI is here to stay, and if used properly, it can seriously improve all of our lives. There’s a tricky balance though between safeguarding consumers while still harnessing AI's potential. This order does just that by promoting responsible AI use in healthcare and the development of affordable life-saving drugs and establishing a safety program to address AI-related healthcare issues. Efforts will also be made to use AI in education effectively by providing resources for educators using AI-powered tools like personalized tutoring in schools. The impact will eventually be felt across all sectors, by all people.

5) Supporting Workers 

“Is AI going to take my job??” A question that has been asked by literally anyone since this AI wave started. And it’s a fair one. While AI promises to increase productivity, it also raises concerns about workplace surveillance, bias, and job displacement. That’s where the executive order comes in. The Biden administration is creating a set of principles and best practices to tackle those problems, in addition labor standards, workplace equity, health, safety, and data collection. On top of that, they’re going to be dropping a serious report on the potential impacts of AI on the job market. From job shifts to skills shortages, all the workforce-related AI disruptions will be under the microscope. 

6) Promoting Innovation and Competition

The USA is actually the world’s leading AI innovator, with more AI startups receiving funding in the US than in the next seven countries combined. Now that the US has this momentum, the Biden administration doesn't want to lose it. To maintain its lead, the executive order promotes research by launching the National AI Resource pilot, which grants AI researchers and students access to critical AI resources and data. It also promotes fair, open, and competitive play in the AI ecosystem to support small developers, and facilitates the visa process so that the brightest minds in AI can easily enter, study, stay, and work in the US.

7) Advancing American Leadership Abroad

Even the most successful people will admit that it can get lonely at the top - AI is truly a global phenomenon. This is a classic case of a rising tide lifting all boats.. If the US wants to accelerate the field of AI, there needs to be collaboration around the world, and to do so, Biden is laying out the infrastructure for this kind of teamwork. This includes working with the State Department and the Commerce Department to create frameworks for international engagement that harness the power of AI while making sure it’s safe; and creating a set of standards for AI so they are interoperable (i.e., used the same way) globally.

8) Ensuring Responsible and Effective Government Use of AI

Though it may be hard to believe, AI in the hands of the US government may not be all bad. Imagine everything running a little more smoothly and resources being shared more effectively. But as many people worry, there are also a lot of risks like discrimination and potentially reckless decision-making. That's why Biden is focused on deploying AI responsibly in government and modernizing federal AI infrastructure. Some ways the executive order is tackling this include working with federal agencies to establish clear guidelines for AI use, streamlining the AI contracting process, and launching a government-wide AI talent surge. 

Our Thoughts

The US is taking a different approach to AI than it did to crypto. With crypto, they were quick to enact regulations. But with AI, they're taking a more cautious approach. The executive order is broad and ambitious, but it's still too early to say how it will all play out.

The Biden administration is clearly serious about AI, and they want to make sure that it is used for good. But there are many challenges ahead. Implementing the executive order will be costly and complex, and getting other nations on board will be difficult.

Still, the executive order is a step in the right direction. It shows that the US is committed to leading the way in AI innovation.

Company Spotlight: Unitary AI 📽️

There’s a lot of dangerous content out there on the internet, especially in videos, and it’s tough to filter it out. Companies like YouTube use a combination of algorithms and people (yes, people) to watch all the content that’s out there to do that. But 3.7M videos get added to YouTube each day, so it’s tough to keep up.

Introducing Unitary, a London-based startup, using contextual AI to automate the content moderation process. Their AI can quickly and accurately identify and classify harmful content, even in videos where the context is complex or nuanced.

And the company is gaining momentum, increasing their team to over 40 people, classifying 6 million videos per day, and recently raising $15 million in Series A funding.

Jobs in Web3: Bag Talk 💰 

Check out some roles that we recently came across! Also, don’t be a stranger - let us know what types of roles / companies you’re looking for - let’s secure the bag y’all!

• Product Technical Program Manager - Generative AI at Meta

• Product Manager, Generative AI at Scale AI

• Manager, Blockchain Research at Mastercard

• Market Strategy Manager, Capital Markets at Chainlink Labs

• Enterprise Customer Success Manager at People AI

What’s Happening in the News 🗞️ 

Here’s what has caught our attention over the past two weeks:

• AI Startups Fear That Biden’s AI Executive Order Could Stifle Innovation

• Goldman Sachs Sees AI Lifting US GDP Over Next Decade

• Google Brain cofounder says Big Tech companies are lying about the risks of AI wiping out humanity

Thanks all for this week, folks! Thanks for tapping in with us.

– Chad & Kendall