Chuck Schumer is dropping the ball on regulating AI

AI's capabilities are growing at tremendous speeds, and while that apparently warrants a ton of the United States' money for development, it doesn't seem to translate to a very obvious action: regulation. A bipartisan group of four senators, led by majority leader Chuck Schumer, have announced a legislative plan for AI that includes putting 32 billion towards research and development. "It's very hard to do regulations because AI is changing too quickly," Schumer said in an interview published by The New York Times. Yet, in March, the European Parliament approved wide-ranging legislation for regulating AI that manages the obligations of AI applications based on what risks and effects they could bring. The European Union said it hopes to "protect fundamental rights, democracy, the rule of law and environmental sustainability from high-risk AI, while boosting innovation and establishing Europe as a leader in the field." Schumer seems to disagree with finding that balance, instead stating in the interview that investment into AI research and development "is sort of the American way -- we are more entrepreneurial."