Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Cruz shoots down Schumer effort to regulate AI: ‘More harm than good’

by July 15, 2023
July 15, 2023
Cruz shoots down Schumer effort to regulate AI: ‘More harm than good’

EXCLUSIVE: Sen. Ted Cruz is criticizing Democrats for what he believes is a rush to regulate the artificial intelligence sector, and says new rules for AI would be a drag on the U.S. in the critical tech race against China.

‘I am concerned China is investing heavily in AI. I’m also concerned that Democrats want to impose such stringent regulations on the development of AI that it stifles innovation in the United States, and allows China to take the lead,’ Cruz told Fox News Digital after a classified briefing on AI and national security this week.

‘That would be a generational mistake,’ he said of the Democrats’ effort.

Cruz made those comments as lawmakers continue to propose new ideas to regulate AI, including bills that would create new agencies or commissions to impose Washington’s will on the sector. Senate Majority Leader Chuck Schumer, D-N.Y., has led the charge for guardrails on AI in the upper chamber, and says he can devise a regulatory framework to ensure the technology remains innovative while protecting user security and American jobs.

But Cruz argued that federal lawmakers were not in a place where they could reasonably approach rulemaking for AI.

He told Fox News Digital point-blank that he was opposed to Schumer’s regulatory efforts, however they end up.

‘I’m a believer in light touch regulations. And AI, over the coming decades, is certainly going to require a regulatory framework. But at this point, Congress doesn’t have even the barest modicum of understanding,’ Cruz said. ‘So it is far more likely that Congress would do harm than do good.’

‘I believe we need to study the challenges posed by AI, but not put in place barriers to creativity and innovation, because American inventors are leading the world today and should continue to do so,’ he said.

Like most members of Congress, Cruz acknowledged there are both benefits and drawbacks of allowing AI to advance at its current pace. But one thing he said was certain was that the U.S. must stay at the forefront of its development.

‘There’s no doubt AI is the next frontier in technology and more and more It’s becoming the current frontier. There are real and serious threats posed by AI at the same time, there’s enormous upside in terms of it – in productivity and job creation,’ he said.

‘I believe it’s critical that America lead the world in the development of AI, and that China not be allowed to overtake us,’ he said.

China’s severe regulatory environment has slowed the rollout of AI Chatbots and other accessible forms of the tech to the general public, but Beijing has nevertheless made strides. China-based tech startups pulled in nearly $14 billion in funding just in the last six months, according to Reuters.

While Schumer has stressed the need to move quickly on a regulatory framework, he has also indicated it may not be ready until next year. He said he still wants to hold a series of listening sessions with experts in the fall.

Elizabeth Elkind is a politics reporter for Fox News Digital. 

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
Dan Crenshaw shreds Dem colleagues defending child sex change surgery: ‘We are not the crazy ones’
next post
House Republicans narrowly pass controversial defense bill

You may also like

Speaker Johnson says ‘still some concern’ about Elon...

December 10, 2024

Vance says his mission at GOP convention speech...

July 17, 2024

Ashli Babbitt’s Killer Received Special Housing After Shooting...

October 14, 2022

GOP congresswoman Anna Paulina Luna says she was...

January 4, 2023

Leading activist slams Dems for dragging feet on...

June 16, 2023

GOP Rep. Joe Wilson trumpets ‘Make Iraq Great...

February 28, 2025

Biden approves $500M Ukraine security package 11 days...

January 9, 2025

First Openly Trans New Hampshire Lawmaker Who Made...

November 23, 2022

Highlights from President-elect Donald Trump’s 1st Inauguration Day;...

January 18, 2025

Democrat Bob Casey concedes Pennsylvania Senate race to...

November 22, 2024

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • US and China hold London talks to ease trade war tensions

      June 9, 2025
    • British fathers urged to join landmark ‘dad strike’ over poor paternity leave

      June 9, 2025
    • IVF parents should have right to paid fertility leave, says GMB union

      June 9, 2025
    • Reform UK clashes with Bank of England over interest payments to lenders

      June 9, 2025
    • Trump ally stands firm against ‘big, beautiful bill’ despite pressure: ‘It’ll completely backfire’

      June 8, 2025
    • Rubio condemns assassination attempt on Colombian presidential candidate Miguel Uribe

      June 8, 2025

    Categories

    • Business (8,156)
    • Investing (2,019)
    • Politics (15,571)
    • Stocks (3,136)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved