The country that wins the global race for dominance in artificial intelligence stands to capture major economic benefits, such as potentially doubling its economic growth rates by 2035. And as other countries launch major government-backed initiatives to compete, the United States lacks a cohesive national strategy to match. However, as Joshua New writes in Fortune Magazine, the last thing policymakers should do is shackle AI with ineffective, economically damaging regulation. In order to be a serious contender in the global AI race, policymakers should adopt the principle of algorithmic accountability, a light-touch regulatory approach that incentivizes businesses deploying algorithms to use a variety of controls to verify that their AI systems act as intended, and to identify and rectify harmful outcomes.
