US Law for AI- Business trust?

The US approach to the regulation of AI focuses on safety, security, privacy and fairness regarding AI. More comprehensive country-wide laws may still come in the future as we continue to understand AI better.

The United States currently does not have specific federal laws regulating artificial intelligence or the uses of AI. However, there have been some significant recent developments:

An "AI Bill of Rights" was published outlining five key protections for people in the US against harm from AI. These protections include being safe from unsafe or not working correctly AI systems, no unfair treatment by computer programs that make decisions, safeguards against misuse of personal data, transparency about using automated computer systems, and the ability to decide not to use these systems.

An Executive Order for Safe, Secure and Trustworthy AI made by  President Biden. This order establishes new standards to make AI safer and better protect privacy. It also aims to promote fairness, support rights, help consumers and workers, encourage innovation in AI in the US, advance US leadership globally with AI, and more. Developers of the most powerful AI systems must now share testing results and essential information with the US government.

Trust in AI is complicated for businesses. There are some propositions from diverse studies and articles:

One study offers a Basic Trust Framework for AI. It looks at trust in AI as an issue of how systems connect. It uses systems thinking to better grasp the nature of trust in AI.

Over 90% of AI leader executives say AI has improved their decision confidence. But only 48% of other executives have seen this confidence boost. This indicates the AI leaders trust AI more than others. More openness and teaching are needed on AI.

Academic research shows a direct link between ethics and trust in AI. Considerations like fairness, transparency and privacy significantly shape trust in AI systems.

US businesses trust AI, but there is a way to increase its level. Trust in AI is vital for successfully using it in business. It requires a strategic approach built on critical pillars: understandability, fairness, robustness, openness and privacy. However, trust in AI in the US lacks common fundamental principles. More research and systematic thinking are required to fully grasp and improve trust in AI from the business view.