As artificial intelligence (“AI”) has moved from the realm of science fiction to the world of business, companies and regulators alike have grappled with the opportunities and risks that AI presents. Today, AI-powered applications, from chatbots to delivery drones, have changed the way businesses operate and interact with their customers. At the same time, the increasing use of AI technologies to facilitate business decisions and outcomes in areas such as employment, health care, housing and finance has prompted lawmakers and regulators at both the state and federal levels to evaluate whether and how to regulate AI to ensure that it is employed responsibly and in a manner that serves the public interest. Although AI technologies have been in existence for decades, regulations are still catching up to this reality.
This article provides an overview of the current AI law and policy landscape in the U.S. by illustrating how government entities are working to foster innovation while also implementing safeguards to mitigate potential harms caused by unrestricted use of AI technologies.