US senators submit updated version to advance AI regulation

US senators submit updated version to advance AI regulation

Washington. 19.5.2023

Two US Senators have introduced an updated version of the bill and the
Call for the creation of a new federal agency to regulate AI and digital platforms.

Reintroduced by Sens. Michael Bennet (D-Colo.) and Peter Welch (D-Vt.), the bill seeks to regulate AI products and address concerns about a lack of oversight in the technology sector.

The bill aims to establish a Federal Digital Platform Commission to regulate companies that use algorithmic processes to generate content.
The five-member commission would have the power to enforce rules and penalties, as well as conduct investigations and hearings. Their goal is to ensure that the platforms‘ algorithms are fair, transparent and secure, while maintaining full control over social media and search engines.

The bill also sets out requirements for algorithmic reviews and public risk assessments for large platforms. It reportedly broadens the definition of algorithmic processes and gives the Commission jurisdiction over the use of personal data.