Overview
Shawn Helms is co-head of the Firm’s technology transactions and outsourcing practice. He has broad experience in the areas of information technology, outsourcing, blockchain, crypto, artificial intelligence (AI), digital health, and telecommunications. See his thoughts below on how the outcome of the 2024 US election could affect the AI space.
In Depth
How would a Harris-Walz administration affect clients in your AI practice?
Bottom line: Clients will need to invest more in aligning their AI practices with government policies, balancing innovation with heightened regulatory scrutiny. They might need to navigate increased oversight mechanisms such as audits or certifications.
Added context: The Biden administration issued the Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence in late 2023. Vice President Harris has not said anything to contradict the legislative priorities outlined in that order, which are:
- Establishing standards for AI safety and security
- Protecting Americans’ privacy
- Advancing equity and civil rights
- Supporting consumers and workers
- Promoting innovation and competition
- Advancing American leadership in AI globally
All companies should anticipate a continuation of these themes, with potential new regulations requiring greater algorithmic accountability, explainability, and compliance reporting.
Harris has said that she and President Biden “reject the false choice that suggests we can either protect the public or advance innovation.” This suggests she aims to find a middle ground between promoting AI development and implementing necessary safeguards.
How would a Trump-Vance administration affect clients in your AI practice?
Bottom line: They might focus on deregulating AI to promote innovation, giving companies more freedom in AI development. However, if Trump involves Elon Musk in his administration, Musk might steer toward more regulation.
Added context: A Trump-Vance administration could also offer incentives like tax breaks to encourage investment in AI, aiming to strengthen the US competitive edge globally. Stricter immigration policies might impact the recruitment of foreign AI talent, though exceptions could be made for highly skilled individuals. This approach could boost US companies’ growth in AI but might raise concerns over ethics, data privacy, and international compliance. The wild card is Elon Musk. Trump has expressed an interest in having Elon Musk involved in his administration. We can expect he would have a major influence on AI, which might steer the administration toward more regulation (given his stance in the past).
With either administration, what should clients be most focused on from a regulatory and enforcement perspective?
Bottom line: Under either administration, companies should focus on monitoring regulatory changes in AI to adjust their compliance strategies accordingly.
Added context: Clients need to navigate potential shifts in immigration policies that might affect the recruitment of international AI talent, possibly by investing more in domestic workforce development.
Proactively adopting strong ethical practices in AI can help build public trust, regardless of changes in federal regulations. Attention to international compliance is crucial, as divergence from global data privacy and AI standards could create market access challenges. Potential roadblocks include regulatory uncertainty, talent shortages due to immigration restrictions, and ethical concerns leading to public distrust.
