Adam Thierer, a senior fellow at the R Street Institute, presented key points to the US Congress on the potential of AI to drive economic growth, enhance governance, and improve national security. Emphasising a need for pro-innovation policies and a balanced approach to AI governance, he highlighted the benefits and challenges of AI adoption in various sectors.
On June 4, 2024, Adam Thierer, a senior fellow at the R Street Institute, testified before the Joint Economic Committee of the United States Congress. The hearing, titled “Artificial Intelligence and Its Potential to Fuel Economic Growth and Improve Governance,” focused on the benefits of artificial intelligence (AI) in various sectors.
Thierer emphasized three main points:
1. AI’s capability to drive economic growth and improve consumer welfare, particularly through advancements in medical diagnostics and treatments.
2. The need for a pro-innovation AI policy to maintain the United States’ competitive edge globally and enhance national security.
3. An “AI Opportunity Agenda” to encourage innovation by avoiding burdensome regulations and embracing a learning period moratorium on new AI-specific bureaucracies.
He highlighted that artificial intelligence could significantly amplify productivity, contribute trillions to the global economy, and improve governance by increasing efficiency in government operations. Thierer also noted that the U.S. must adopt a measured approach to AI governance to stay ahead in the international competitive landscape, particularly against nations like China.
The testimony included examples of AI’s impacts, such as enhancing the efficiency of public services in Ohio and California and aiding in regulatory compliance. Thierer concluded with a call for a balanced AI policy that supports innovation while managing risks, urging Congress to focus on creating an environment that fosters technological advancement.
