Washington, DC – Last week, U.S. Representative Young Kim (CA-40) was selected to serve on the House Financial Services Committee’s Artificial Intelligence (AI) Working Group to explore AI’s impact on the financial services and housing industries, how lawmakers can ensure regulations consider the benefits and risks associated with AI, and protect our workforce and consumers.
Rep. Kim discussed the AI Working Group with Spectrum News 1. Watch the interview HERE or read highlights below.
Financial Services Committee members to explore AI’s impacts
Spectrum News 1
By Cassie Semyon
January 16, 2024
Artificial intelligence is increasingly popping up all around us — at home, at work and even on our commutes, courtesy of self-driving cars. But as its capabilities grow, so do the questions swirling around it.
Congress has been dipping its toe into AI in recent months with hearings and roundtable discussions on the topic, trying to learn more about AI — and, importantly, both how to regulate it and who should be in charge of doing so. The most recent step being taken is the creation of a bipartisan AI working group under the House Financial Services Committee.
“AI has tremendous potential to transform our lives for the better, but we also need to address the potential risks associated with it. And that’s what this working group is going to review, we’re going to look at, especially in the financial services and housing industries, we’re going to look at how AI impacts that,” said Rep. Young Kim, R-Calif., one of the newly-appointed members to the working group.
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Without tackling this issue head-on, Kim — who chairs the Subcommittee on Indo-Pacific — says she is concerned it could put the U.S. at risk on the global stage.
“It’s been reported that China is already the world’s second-leading country in AI research and technology, and they are on track to be the AI world leader by 2030. This is all the more reason why we need to remain the leader in developing these emerging technologies in the right way,” said Kim.
“We know they’re spying and controlling its own population, and we know their intent is different than ours. That’s why we need to be a leader in this emerging technologies development areas in the right way and preserve the American values.”
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Read the full article HERE.
