SharePresident Biden signed an executive order (EO) on "Safe, Secure, and Trustworthy Artificial Intelligence." Please see the "fact sheet" about the executive order.
The order invokes the Defense Production Act, and requires that companies developing any foundation model that poses a serious risk to national security, national economic security or national public health and safety must notify the federal government when training the model, and must share the results of red-team safety tests.
The order directs the Department of Commerce to develop guidance for content authentication and watermarking to clearly label AI-generated content.
The President calls on Congress to pass bipartisan data privacy legislation to protect all Americans.
The order acknowledges that uses of artificial intelligence (AI) can lead to and deepen discrimination, bias, and other abuses in justice, health care, and housing. The President directed the Department of Justice and federal civil rights offices to prevent and address discrimination in the use of automated systems, including algorithmic discrimination, and to improve external stakeholder engagement to promote public awareness of potential discriminatory uses and effects of AI.
Executive orders are statements of administration policy and do not have the force of law. Rather these statements direct agencies to consider actions to the extent allowed under existing statutory authorities and may prompt federal agencies to propose draft regulations that could have an impact on the use of AI in real estate. We’ll keep you posted.