Obama-era tech advisors list potential challenges for the White House’s AI principles

venture beat | January 12, 2020

Obama-era tech advisors list potential challenges for the White House’s AI principles
Former Obama administration advisors say the White House regulatory AI principles announced this week are a good start in many ways, but they’re incorrect in their oversimplified mandate to avoid overregulation of private business use, and that the Trump administration could face an uphill battle in its appeal to the rest of the world. Though the Trump administration has developed a reputation for blaming the Obama administration when things go wrong or trying to erase Obama-era policy, on artificial intelligence policy, at times the Trump administration has remained strikingly similar to its predecessor. This was evident in the AI research and development strategy plan for federal agencies released in summer 2019. In some instances, like with White House deputy CTO and assistant director of AI at the White House Office of Science and Technology Policy (OSTP)  Dr. Lynne Parker who also served in the Obama administration, the same people drive White House AI policy.

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Everybody dreams of a comfortable retirement nest egg and security down the road, but a sweeping change by the Department of Labor (DOL) could have a direct impact on your piggy bank. DOL proposed in April a new regulatory package that would put the department in charge of financial advice provided to Individual Retirement Accounts (IRAs) in addition to all private-sector, employer-provided retirement plans they already oversee. The proposal expands the definition of fiduciary investment advice under a federal law known as the Employee Retirement Income Security Act (ERISA) – a change that would impact rules governing how financial advice is provided to roughly $15 trillion in retirement savings.

Spotlight

Everybody dreams of a comfortable retirement nest egg and security down the road, but a sweeping change by the Department of Labor (DOL) could have a direct impact on your piggy bank. DOL proposed in April a new regulatory package that would put the department in charge of financial advice provided to Individual Retirement Accounts (IRAs) in addition to all private-sector, employer-provided retirement plans they already oversee. The proposal expands the definition of fiduciary investment advice under a federal law known as the Employee Retirement Income Security Act (ERISA) – a change that would impact rules governing how financial advice is provided to roughly $15 trillion in retirement savings.

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