Ted Cruz’s new bill would let AI companies set their own rules for up to 10 years
On Wednesday, Sen. Ted Cruz introduced legislation to create a regulation "sandbox" that would allow artificial intelligence companies to experiment with minimal federal oversight.
The SANDBOX Act, if passed by Congress, would allow companies to apply for modifications to or waivers from any "obstructive regulations" to the testing and deployment of products or services that use or contain "in whole or in part" at least one AI system. In return, companies would be required to disclose plans to mitigate consumer safety and financial risks.
The waivers would last for two years at a time, up to 10 years, harkening back to the failed morator ...