Breaking News: California Governor Newsom Vetoes Bill Regulating AI Development - Impact on Tech Industry and Future Investments Revealed
In a shocking turn of events, California Governor Gavin Newsom has vetoed SB 1047, a bill that would have imposed regulations on the development of Artificial Intelligence (AI). Authored by State Senator Scott Wiener, the bill aimed to hold companies accountable for implementing safety measures to prevent "critical harms" caused by AI models costing at least $100 million and using 10^26 FLOPS during training.
This decision has sparked mixed reactions within the tech industry, with Silicon Valley giants like OpenAI and renowned technologists like Yann LeCun opposing the bill. Even Democratic politicians such as U.S. Congressman Ro Khanna have shown their disapproval. However, the bill had undergone amendments based on feedback from opponents, including AI company Anthropic.
Governor Newsom's veto comes as a blow to those advocating for stricter regulations on AI technologies. In a statement, Newsom expressed concerns that SB 1047 failed to consider the context in which AI systems are deployed, raising doubts about its effectiveness in protecting the public from potential threats posed by AI technology.
Despite this setback, Newsom has signed 17 bills in the past month aimed at regulating AI deployment. He has also enlisted the expertise of renowned individuals like Fei-Fei Li, Tino Cuéllar, and Jennifer Tour Chayes to develop guidelines for GenAI deployment.
Senator Wiener, on the other hand, views the veto as a setback for oversight of large corporations making crucial decisions impacting public safety. He believes that the debate surrounding SB 1047 has brought attention to the issue of AI safety on a global scale.
In conclusion, Governor Newsom's veto of SB 1047 has significant implications for the tech industry and future investments in AI. Investors should closely monitor developments in AI regulation to assess potential risks and opportunities in this rapidly evolving sector. Stay tuned for more updates on this evolving story.