This article has been republished with permission from Binance News.
According to Cointelegraph: US Senators Richard Blumenthal and Josh Hawley unveiled a bipartisan blueprint for artificial intelligence (AI) legislation on Sept. 8. The framework is an effort to regulate the emerging technology and manage its potential benefits and risks. The proposal includes mandatory licensing for AI firms and clarifies that technology liability protections will not exempt these companies from legal repercussions.
The proposed framework aims to create a licensing system overseen by an independent regulatory body, requiring AI model developers to register with this entity. The regulatory body would have the power to audit licensing applicants. Furthermore, the framework suggests that Section 230 of the Communications Decency Act, which offers tech firms legal protection for third-party content, should not apply to AI applications. Other provisions advocate for corporate transparency, consumer and child protection, and national security safeguards.
The senators, who lead the Senate Judiciary Subcommittee on Privacy, Technology, and Law, have also announced a hearing that will feature testimonies from industry experts like Brad Smith, Microsoft’s vice chairman and president, William Dally, NVIDIA’s chief scientist, and Woodrow Hartzog, a professor at Boston University School of Law.