Biden looks to limit AI product exports, tech leaders say they'll lose global market share

Leaders in the tech industry are urging the Biden administration not to add a new regulation that will limit artificial intelligence exports, citing concerns it is overbroad and could diminish the United States' global dominance in AI. The new rule, which industry leaders say could come as early as the end of this week, effectively seeks to shore up the U.S. economy and national security efforts by adding new restrictions on how many U.S.-made artifical intelligence products can be deployed across the globe. "A rule of this nature would cede the global market to U.S. competitors who will be eager to fill the untapped demand created by placing arbitrary constraints on U.S. companies' ability to sell basic computing systems overseas," stated a Monday letter from Jason Oxman, the president and CEO of the Information Technology Industry Council (ITI), sent to Commerce Department Secretary Gina Raimondo. "Should the U.S. lose its advantage in the global AI ecosystem, it will be difficult, if not impossible, to regain in the future." FBI'S NEW WARNING ABOUT AI-DRIVEN SCAMS THAT ARE AFTER YOUR CASH The process to place new export controls on artificial intelligence goes back to October 2022, when the Biden administration's Commerce Department first released an updated export framework aimed at slowing the progress of Chinese military programs. Details of the new incoming export controls surfaced after the Biden administration called on American tech company NVIDIA to stop selling certain computer chips to China the following month.