Efforts on Capitol Hill to rein in artificial intelligence technology would be like taking a wiffle ball bat to a tidal wave. That’s the message Dave Walton, partner at Fisher Phillips and Co-Chair of the firm’s AI, Data, and Analytics team, delivered to the US House Committee on Education and the Workforce earlier this month. During a hearing on “Building An AI-Ready America: Adopting AI At Work,” Walton emphasized that AI is likely to create more jobs than it displaces – and employers need to take measures to govern themselves now as the legal landscape around the tools evolve. As federal lawmakers consider legislation to place guardrails around AI use, Walton cautioned them not to go too far, particularly since established employment and labor laws already apply. AI can actually help retain employees, monitor workplace safety and health, and reduce turnover, he said. Here are four main takeaways from Walton’s testimony on AI regulation to help your business stay ahead of the game as technology evolves.
1. Past technological innovations have led to job growth.
How artificial intelligence will ultimately embed itself into our economy and the workplace will likely be a case of history repeating itself, Walton said. While workers may not be needed for certain tasks, history suggests AI will actually increase total employment opportunities.
| This is known as Jevons’ Paradox: Improved efficiency reduces costs, which increases demand, and ultimately expands overall... |
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