MANHATTAN -- The New York City Council is considering a series of bills aimed at establishing safeguards for Artificial Intelligence as city leaders raise concerns about the potential risks of the rapidly developing technology.
The council held what was described as the first hearing of its kind in the nation Monday, with lawmakers examining the use and consequences of AI.
Council Speaker Julie Menin argued that the industry should not be left to regulate itself.
"The idea that the AI industry is going to self-regulate defies all reason. We don't ask the airline industry to self-regulate. That's why we have the FAA. And if there is an accident, there is an independent body that investigates. We don't ask financial firms to self-regulate. They're regulated by the SEC and other agencies," Menin said.
Artificial intelligence offers the potential for significant advances but also poses risks, particularly in New York City, a center of global finance and media.
In the absence of federal efforts to manage and regulate the growth of AI, city leaders say New York must take action on its own. The council is considering a series of 10 bills designed to establish guardrails.
Council member Frank Morano said lawmakers should establish rules before people are harmed.
"Innovation and accountability aren't enemies. We've had this debate before for every major technology. First comes the breakthrough, then comes the excitement. Then usually after people get hurt, come the rules. I'd...
Hospitals will likely spend more to protect themselves from the Centers for Medicare and Medicaid Services’ expanded powers to kick them out of government health programs, which would be ruinous f...