If these Goldman Sachs estimates are remotely accurate, we are poised for a major boom in productivity and economic growth as AI is adopted in coming years.
But if Biden has his way, this amazing technology may be strangled by federal regulation in its infancy.
Longtime software engineer Steven Sinofsky has written a devastating critique of Biden’s AI executive order, from which we excerpt:
Imagine where we would be if at the dawn of the microprocessor someone was deeply worried about what would happen if “electronic calculators” were capable of doing math faster than even the best humans. If that would eliminate the jobs of all math people. If the enemy were capable of doing math faster than we could. Or if the unequal distribution of super-fast math skills had an impact on the climate or job market. And the result of that was a new regulation that set limits for how fast a microprocessor could be clocked or how large a number it could compute?
What if at the dawn of the internet the concern over having computers connected to each other and becoming an all-knowing communications network resulted in regulations that set limits on packet size and speed, or the number of computers that could be connected to the network or to each other?…
The entirety of Section 4 “Ensuring the Safety and Security of AI Technology” is really a “guilty until proven innocent” view of a technology. It is simply premature. People are racing ahead to regulate away potential problems and in doing so will succeed in stifling innovation before there is any real-world experience with the technology. This section is a result of the fantastical claims of the technology doomsayers having won the ear of the White House.