Trump's Victory Spell Boost for AI Industry?

Artificial intelligence (AI) advocates are optimistic about Donald Trump's re-election, seeing it as a potential boost for the industry, though they stress the need for carefully crafted policies.

Ray Wu, managing partner at Silicon Valley's Alumni Ventures, calls Trump's victory "positive" for AI, emphasizing that fostering innovation requires a more relaxed regulatory environment.

Wu noted:

“This industry is still very young. Having clear guidelines is very helpful, so at least there’s a guardrail, but too much detail at this early stage will become a hindering force.”

Trump has signalled plans to reverse the Biden Administration's October 2023 executive order, which mandated AI companies disclose safety protocols and address biases in their models.

Critics, including Republican Rep. Nancy Mace, argue that such requirements could stifle innovation, potentially hindering breakthroughs like ChatGPT.

Scepticism Arises, Warns Against Hasty Move

While some remain optimistic, others urge caution.

The Center for AI Policy, a research organisation focused on mitigating AI risks, cautioned the new administration against acting hastily.

The group pointed out in a statement:

“While there is certainly room to improve on the Biden AI executive order, a careless or hasty repeal could negatively affect the consistency and rigor of safety testing across the AI industry.”

A key goal for the next administration, both Trump and Vice President Kamala Harris highlighted, is ensuring the US maintains its global leadership in AI, as noted by Oxford University lecturer Keegan McBride on X (formerly known as Twitter).

However, predicting Trump's approach to AI policy remains difficult, as little was discussed during the campaign, according to Sanjay Patnaik, director of the Brookings Institution's Center on Regulation and Markets.

Based on Trump's previous term, Patnaik suggests the former president may seek to reduce regulatory burdens on AI companies, which could benefit smaller startups in the sector.