Most broadly, we are likely to see the strategies that emerged last year continue, expand, and begin to be implemented. For example, following President Biden's executive order, various US government agencies may outline new best practices but empower AI companies to police themselves. And across the pond, companies and regulators will begin to grapple with Europe's AI Act and its risk-based approach. It certainly won't be seamless, and there's bound to be a lot of discussion about how these new laws and policies actually work in practice. While writing this piece, I took some time to reflect on how we got here.

Senator Charles Schumer (D-NY) once again played host to Silicon Valley's AI leaders on Tuesday as the US Senate reconvened its AI Insights Forum for a second time. On the guest list this go around: manifesto enthusiast Marc Andreessen and venture capitalist John Doerr, as well as Max Tegmark of the Future of Life Institute and NAACP CEO Derrick Johnson. On the agenda: "the transformational innovation that pushes the boundaries of medicine, energy, and science, and the sustainable innovation necessary to drive advancements in security, accountability, and transparency in AI," according to a release from Sen. Schumer's office. Upon exiting the meeting Tuesday, Schumer told the assembled press, "it is clear that American leadership on AI can't be done on the cheap. Almost all of the experts in today's Forum called for robust, sustained federal investment in private and public sectors to achieve our goals of American-led transformative and sustainable innovation in AI. Per National Security AI Commission estimates, paying for that could cost around $32 billion a year. However, Schumer believes that those funding challenges can be addressed by "leveraging the private sector by employing new and innovative funding mechanisms – like the Grand Challenges prize idea." "We must prioritize transformational innovation, to help create new vistas, unlock new cures, improve education, reinforce national security, protect the global food supply, and more," Schumer remarked. But in doing so, we must act sustainably in order to minimize harms to workers, civil society and the environment. "We need to strike a balance between transformational and sustainable innovation," Schumer said. "Finding this balance will be key to our success." Senators Brian Schatz (D-HI) and John Kennedy (R-LA) also got in on the proposed regulatory action Tuesday, introducing legislation that would provide more transparency on AI-generated content by requiring clear labeling and disclosures. Such technology could resemble the Content Credentials tag that the C2PA and CAI industry advocacy groups are developing. "Our bill is simple," Senator Schatz said in a press statement. "If any content is made by artificial intelligence, it should be labeled so that people are aware and aren't fooled or scammed." The Schatz-Kennedy AI Labeling Act, as they're calling it, would require generative AI system developers to clearly and conspicuously disclose AI-generated content to users. Those developers, and their licensees, would also have to take "reasonable steps" to prevent "systematic publication of content without disclosures." The bill would also establish a working group to create non-binding technical standards to help social media platforms automatically identify such content as well. "It puts the onus where it belongs: on the companies and not the consumers," Schatz said on the Senate floor Tuesday. "Labels will help people to be informed.

Sen. Mike Rounds, R-S.D., weighs in on whether Ukraine should be given NATO membership and President Biden's decision to send cluster bombs to Ukraine on'Your World.' EXCLUSIVE: Sen. Mike Rounds, R-S.D., told a group of tech leaders, union leaders and artificial intelligence experts on Wednesday that AI's rapid advancement has inspired calls for "a new Manhattan-like project" and how the government should regulate AI -- if at all -- is still a matter of debate. Rounds, along with Senate Majority Leader Chuck Schumer, is leading the first in a series of bipartisan AI Insight Forums designed to help lawmakers get ahead of AI as it permeates everyday life. Wednesday's session saw the attendance of Meta's Mark Zuckerberg, X owner Elon Musk, AFL-CIO union boss Elizabeth Shuler and others. "Today, we stand at the beginning of a journey of monumental change. While Artificial Intelligence has been around in various forms for years, recent advances in the most cutting-edge models have shown us just how capable the technology has become," Rounds told the closed-door meeting, according to prepared comments obtained exclusively by Fox News Digital.

Fox News correspondent Gillian Turner has the latest on the president's focus amid calls for an impeachment inquiry on'Special Report.' Senate Majority Leader Chuck Schumer, D-N.Y., is signaling that he is serious about pushing through some form of regulatory framework for artificial intelligence when Congress is back from its August recess. Schumer is planning on kicking off a series of bipartisan "AI Insight Forums," he told Senate Democrats in a letter on Friday morning, in a bid to get lawmakers caught up on the rapidly advancing tech. His first, on Sept. 13, is expected to feature tech leaders like Elon Musk, Mark Zuckerberg, and Sam Altman, among others. "These forums will build on the longstanding work of our Committees by supercharging the Senate's typical process so we can stay ahead of AI's rapid development," Schumer said.

UK regulators are staging the first meeting of the Artificial Intelligence Public Private Forum, a quarterly talking shop to gauge the impact of AI in financial services.