• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Cruz shoots down Schumer effort to regulate AI: ‘More harm than good’
Economy

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

by July 15, 2023
by July 15, 2023 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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
You Might Also Like
  • Arizona bill would allow pregnant women to drive solo in HOV lane
  • Ohio congressman slams ‘blame game’ after Buttigieg passes buck on derailed train in East Palestine
  • Biden tells White House audience he’s ‘not going anywhere’ during Fourth of July celebration
  • Europe is turning right. Could Trump lead the way for US next?
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Dan Crenshaw shreds Dem colleagues defending child sex change surgery: ‘We are not the crazy ones’
next post
How this onetime battleground state in heartland America turned bright red

You may also like

Biden says Tyre Nichols death a ‘painful reminder’ of ‘disparately...

January 27, 2023

UN newsletter exposed for sharing ways to protest in US...

April 22, 2024

Trump campaign fires back at GOP opponent trying to bait...

July 17, 2023

GOP Rep calls on Biden to denounce, reject cash from...

May 10, 2024

House Democrats back Biden candidacy as calls for president to...

September 15, 2023

Consumer Inflation Expectations Fell Sharply in December

December 23, 2022

Congressional leaders unveil bill to fund government, Johnson and Schumer...

March 4, 2024

Nikki Haley bets it all on Super Tuesday after dismal...

February 25, 2024

Texas Gov. Abbott spotlights push to impeach Homeland Security Secretary...

January 17, 2023

Former Ohio House Speaker Larry Householder’s $60M bribery trial to...

January 19, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


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

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,451 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.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 © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Sen. Cotton: ‘Massive retaliation’ against Iran...

    November 27, 2023

    Trump’s Tariffs: Canada, Mexico Pause, China...

    February 4, 2025

    Speaker McCarthy faces triangle of troubles

    September 17, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here