A bipartisan group of senators on Tuesday called on Senate Majority Leader Chuck Schumer of New York to support creating an independent agency to regulate big technology companies, reviving a push from last year.
Sen. Michael Bennet (D-Colo.), Sen. Lindsey Graham (R), Sen. Elizabeth Warren (D-Mass.), and Sen. Peter Welch (D-Vermont) wrote a letter to Schumer. He argued that “reform is necessary” at this time. A new federal agency designed to protect consumers, promote competition, and protect the public interest. ”
Last May, Bennett and Welch introduced a bill to create a commission to oversee digital platforms, followed by a similar proposal by Warren and Graham in July.
In a letter Tuesday, the four senators emphasized the federal government's past struggles to regulate big tech companies, especially with the rise of social media, and called for the creation of a new agency. .
“Fragmented efforts to regulate technology have failed,” they write. “Over the past 15 years, social media platforms have wreaked havoc on children's mental health, invaded user privacy and distorted market incentives.”
“Today, these same companies [artificial intelligence]” the senators added.
Schumer is leading the Senate's artificial intelligence (AI) efforts, and has spent the last few months helping lawmakers better understand the rapidly evolving technology and consider potential regulations. We have held AI Insights Forums multiple times.
“Your forum made clear that Congress must regulate AI on behalf of the American people,” the bipartisan group said. “But it would be a mistake to fixate on AI and ignore the broader threats posed by the industry as a whole. Narrow legal fixes alone will not solve the unique challenges of the digital sector.”
“When faced with the emergence of complex and risk-prone industries, Congress has often chosen to create regulatory agencies to address the challenges facing the American people,” they continued. “We need the same approach here.”
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