While Microsoft (MSFT) / OpenAI’s ChatGPT is taking the world by storm and is racking up users quickly, a report by the U.S. Chamber of Commerce has called for regulation of artificial intelligence (AI.) This report called out the rising importance of AI and estimates that AI is likely to result in increasing global GDP by $13 trillion by the end of the decade.
However, the report has pointed out that AI is likely to have a far-reaching impact on areas such as national security and privacy, making regulating it necessary. The report stated, “A failure to regulate AI will harm the economy, potentially diminish individual rights, and constrain the development and introduction of beneficial technologies.”
However, the report did outline an important caveat, “Rather than trying to develop a one size-fits-all regulatory framework, this approach to AI regulation allows for the development of flexible, industry-specific guidance and best practices.”
There have also been reports that the European Union (EU) is working on regulating AI but has so far been hampered by delays.
With Microsoft integrating ChatGPT into its Bing search engine and Google (GOOGL) rolling out its AI chatbot Bard, AI-linked stocks including SoundHound AI (SOUN) and C3.ai (AI) are increasingly in focus. Both SOUN and AI were down in morning trading on Thursday.
For investors interested in getting exposure to AI and robotics-linked stocks, the Global X Artificial Intelligence & Technology ETF (AIQ) is a good option. Over the past three months alone, the Global X Artificial Intelligence & Technology ETF has gone up by 8.1%.