Andrew Yang, a notable figure in American politics and technology, shared his insights on blockchain technology, artificial intelligence (AI), and the challenges faced by the United States in regulating these emerging technologies. His remarks were delivered at the North American Blockchain Summit (NABS) in Fort Worth, Texas on November 16. Yang, who has a strong interest in the potential of blockchain and Web3 technology, expressed his concerns about the slow adoption and limited use of these technologies in the U.S., which he believes poses a risk of companies moving their operations overseas.
In his address, Yang emphasized the importance of showcasing positive use cases of blockchain technology in solving real-world problems for the American people. He highlighted the need for public perception to change, as the current narrative around blockchain is dominated by stories of high-profile cryptocurrency figures. Yang stressed that there is untapped potential in using blockchain to address issues such as poverty and suggested that the technology could also be integrated into civic processes, such as mobile-based voting.
Turning his attention to AI, Yang expressed apprehensions about the U.S. regulatory approach to AI, describing it as “fairly limited, maybe even incoherent.” He raised a critical point about the potential dangers of developing highly advanced AI systems, citing a letter he had signed calling for a moratorium on the training of AI systems more powerful than GPT-4. Yang cautioned against rushing into the development of generative AI models without adequate consideration of the potential societal impacts.
In addition to addressing the technical aspects of blockchain and AI, Yang also discussed the political ramifications of these technologies. He highlighted the interconnectedness of AI and public life, pointing out that AI has the potential to significantly influence political campaigning. Yang warned about the dangers of deep fake videos and their potential to influence financial markets, underlining the need for robust regulations and frameworks to address such challenges.
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Yang’s remarks also touched on the regulatory environment in the United States, criticizing the “wait-and-see” approach and the nature of the “winner-take-all” economy. He argued that these factors contribute to the uneven distribution of technological benefits and exacerbate existing divisions in U.S. political life.
Furthermore, Yang drew attention to the urgent need for comprehensive legislation around AI and emerging technologies, pointing out the deficiencies in existing laws and regulations. He highlighted the disparities in governing social media platforms, noting that the legislation governing these platforms predates the existence of many of the prominent entities that dominate the digital landscape today.
In light of these challenges, Yang’s comments shed light on the pressing need for the U.S. legislative body to be more proactive in addressing the rapid evolution of technology and its potential societal impact. He alluded to impending AI legislation in the European Union, emphasizing the urgency for the U.S. to catch up and avoid falling behind in the global regulatory landscape.
In conclusion, Andrew Yang’s remarks at the NABS summit underscore the complex and interconnected nature of blockchain, AI, and the regulatory challenges facing the United States. His insights serve as a call to action for policymakers, technologists, and the broader public to engage in meaningful discussions and proactive measures to navigate the ever-evolving technological landscape.
