*This article first appeared on Law360 on September 5, 2023.
This summer, Senate Majority Leader Chuck Schumer proposed a distinctive new framework to develop a comprehensive artificial intelligence regulatory policy that is intended to be adamantly bipartisan and committed, as a first principle, to preserving innovation and intellectual property rights.
In parallel, the framework will implement the necessary guardrails to ensure the safe and responsible evolution of AI.
As required by AI’s fast-paced evolution, legislative action is intended to move unusually quickly through Congress with opportunities for input from AI experts.
Given that the senate majority leader is publicly committed to this, and that the U.S. Chamber of Commerce has expressed an open mind toward the initiative, it could become an approach that ends up gaining traction in Congress and forging the U.S. model for AI governance.
This post is as of the posting date stated above. Sidley Austin LLP assumes no duty to update this post or post about any subsequent developments having a bearing on this post.