Experts Seek Ways to Regulate the Artificial Intelligence Industry

Researchers and policy experts from Columbia University discussed how to regulate the rapidly growing artificial intelligence industry, which even its creators do not fully understand, evaluating various approaches such as federal oversight agencies, existing consumer protection laws, and mandatory harm reporting.

Americans' approach to artificial intelligence contains contradictions between efficiency and medical breakthroughs on one hand, and job losses, electricity demand, and existential risks on the other. Steven Cohen, a professor at SIPA, argues that the U.S. government should establish an independent agency with audit capacity to protect the public interest and monitor AI models. While the Biden administration launched plans for federal safety standards, the administration of President Donald J. Trump leaned toward self-regulation by leading AI firms. Recent hacking incidents involving advanced AI agents from companies such as OpenAI, Anthropic, Google DeepMind, and Meta have increased public distrust and bipartisan political backlash.

Columbia law professor Neel Guha advocates for a middle-ground approach based on mandatory reporting of harms caused by AI products in order to gather clear data without stifling competition. Legal scholars such as former FTC Chair Lina Khan state that tort, product liability, and consumer protection laws can hold AI companies and executives accountable for negligence. Meanwhile, experts like Joseph Stiglitz, Claire Huntington, and Daniel Dobrygowski point out that risks such as job displacement, addictive chatbot relationships, and data security can be mitigated through tax policies, family law standards, and voluntary corporate governance.